By 2019, the Inland Empire will see some of the greatest net occupancy gains and new product deliveries in North America, ranking 1st for net absorption (51.3MSF) and 2nd for deliveries (62.7 MSF). As you can see in the graph below, the Inland Empire is running ahead of Chicago, Dallas and the state of New Jersey.
The North American industrial market has experienced a record-setting run, registering some of the strongest leasing tallies and tightest market conditions on record. The Inland Empire is expected to create the second most square footage of New Supply, trailing only Chicago.
Among North American industrial markets, the Inland Empire is forecast to see some of the greatest amounts of new product delivered by year-end 2019 surpassed only by Chicago. As a percentage of new inventory, the Inland Empire is expected to have a 10.5% Industrial mix, leading all major cities like Dallas, Mexico City and the Pennsylvania I-81/I78 Corridor.
During the next two years, demand will be most robust in port-proximate markets, inland distribution hubs, and major population centers like the Inland Empire.
The Inland Empire is expected to have the greatest change in vacancy over the next two-years and will be a leader in the U.S. market with some of the strongest annual rent growth.
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