Inland Empire Industrial, Office Space Demand Up : Leasing Activity in San Bernardino, Riverside Counties Spiraled in Three Years, Survey Finds
The demand for office and industrial space in Riverside and San Bernardino counties rose sharply from 500,000 square feet in 1981, to 3.4-million square feet in 1984, according to Robert Dunham, president of the Newport Economics Group Inc.
The Newport Beach research firm’s report indicated that Inland Empire office-space leasing in 1984 was concentrated in the city of San Bernardino, with 30% of the total, followed by the city of Riverside with 26%. The remainder was spread throughout other communities, including Ontario, Colton and Upland.
The total inventory of office and industrial space now stands at 14.1 million square feet available. The current supply represents a moderate 14 months of inventory based on anticipated 1985 absorption rates.
Major new office projects in San Bernardino include the Inland Business Center on South “D” Street, with six new office structures, and Park Centre on Waterman Ave., which is part of the 250-acre Tri-City Redevelopment project. In Ontario’s Kline Center on East Holt Boulevard, a major office structure was recently completed as the first phase in the 51-acre mixed-use business park.
In Rancho Cucamonga, the first Barton Plaza office building was completed last year, and 320,000 square feet of additional space is under construction.
The Newport Economics Group found that slightly more than 80% of the industrial-sector activity was in San Bernardino County, with Rancho Cucamonga leading, with close to 30%, followed by Ontario, with 22%.
Major new industrial projects include the Rancho Cucamonga Business Park on Arrow Route, a 300-acre mixed-use project by the Barton Development Co. In Ontario, the California Commerce Center at Interstates 10 and 15 encompasses 1,350 acres with 540,000 square feet of space completed and 14 additional buildings totaling 810,000 square feet in the planning stage. Transpark, at Interstate 10 and G Street, will have more than 400,000 feet of industrial space in its first three phases.
