Inland Empire industrial real estate market is looking up
The industrial real estate market in the Inland Empire’s east valley, where many international companies have distribution hubs, is in full recovery, real estate brokers said.
“Uncertainty that may have existed in the first quarter of 2012 seems to have dissipated in the second quarter of the year,” a report by the Riverside office of brokerage Lee & Associates said.
Leasing activity and absorption of empty space were strong in the second quarter, the brokerage said, indicating that the market is continuing to stabilize, and positive absorption is expected to continue throughout 2012.
The vacancy rate in the east valley market jumped during the recession but has fallen to 8%, said David Illsley of Lee & Associates.
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