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.