Inland Empire Industrial Market
The West continued to outperform the East in leasing activity, though to a lesser extent than in recent quarters. Leasing remains most pronounced within the 100,000- to 499,999-SF segment, which boasts higher availability and steeper rent declines relative to other size thresholds. Current lease term lengths are higher than the historical average as tenants lock in today’s more-occupier-favorable conditions. Vacancy increased to 7.6% as a wave of unleased new construction delivered. Net absorption was positive for the quarter at 2.2 MSF. Sublet availability rose to 16.6 MSF, a 6.7% increase from year-end 2024. This was largely due new offerings from Under Armour (1.2 MSF at Prologis Park I-210 in Rialto) and Goodyear (828 KSF at 17477 Nisqualli Rd in Victorville).
Download Inland Empire Industrial Market Report 1Q25