Voit Commercial Brokerage has released its fourth-quarter industrial market report for the Inland Empire.
According to the report, the industrial market will expand as construction continues in 2009. The report cites the more than 20 million square feet of industrial space added in 2008 as evidence the region continues to be one of the fastest growing markets in the state.
The vacancy rate for Inland Empire industrial properties was reported at 10.63percent, up from the year-ago rate of 7.92percent. The report attributes the increase to the slowing economy and financial market corrections.
The total amount of space available in the Inland Empire, which includes both direct and sublease space, was higher than it was a year ago - at 14.18percent in the quarter compared with 9.32percent the year-ago quarter, according to the report.
Read the story... | Source: The Sun | Posted: 1/20/09
