Inland Empire Office Market
| Average Asking Rent (Price/SF/Mo) | $2.04 |
| Vacancy Rate (%) | 11.2% |
| Net Absorption (SF) | 7,044 |
Sales activity has progressively recovered since the start of 2021, totaling $789.7 million in sales volume over the past 12 months, compared to $512.5 million in the trailing 12 months ending in the first quarter of 2021. This 12-month total also exceeds 2019’s annual total of $715.0 million. Family trusts made the largest office acquisitions in the quarter, keeping with the Inland Empire’s appeal to local investors.
Download Inland Empire Office Market Report 1Q22Inland Empire Industrial Market
| Average Asking Rent (Price/SF/Mo) | $1.03 |
| Vacancy Rate (%) | .6% |
| Net Absorption (SF) | 4,017,525 |
Sixteen leases, excluding renewals, over 100,000 square feet were signed this quarter. Nine of the 16 were pre-leases and most were announced on the eve of a given building’s delivery. This reinforces a few trends.