Inland Empire Office Market
| Average Asking Rent (Price/SF/Mo) | $2.10 |
| Vacancy Rate (%) | 10.1% |
| Net Absorption (SF) | 61,897 |
Asking rent climbed to a new all-time high of $2.10/SF, up 4.9% over the past year as office demand remained steady and rents chased the even higher rate of inflation. Vacancy fell to 10.1%, the lowest rate since the beginning of 2020. Vacancies have slowly but steadily declined as existing projects have leased up in the absence of significant new developments.
Download Inland Empire Office Market Report 4Q22Inland Empire Industrial Market
| Average Asking Rent (Price/SF/Mo) | $1.45 |
| Vacancy Rate (%) | 1.3% |
| Net Absorption (SF) | 5,333,936 |
Vacancies in the 100,000- to 300,000-square-foot segment led to the West’s first quarterly net absorption loss in eight years, after General Motors, World Depot, RAK Logistics, Furtech, Luminance Brands, Infinity Trans (USA), Dorel, Uline, New Flyer of America and Allstars Corp shed space.