Q3 2021 Industrial Market Outlook – Inland Empire
MARKET OVERVIEW The industrial market in the Inland Empire is going through the roof as a supply chain crisis continues to overwhelm the ports of Los Angeles and Long Beach waiting to unload thousands of cargo containers headed for local warehouses. While the economy recovers, more than a year after the pandemic shutdown began, demand for warehouses is spiking, rents are rising, and developers are racing to complete projects – and building more. Completed industrial space jumped 17.7% and space under construction increased 12.5% from the prior quarter to more than 20.8M square feet in Q3.
