The Inland Empire industrial market sustained a 14 percent drop-in lease rates during the fourth quarter of 2024, one of five major industrial markets to experience a double-digit decrease during that time.
The Empire region also recorded 46 million square feet of new leases during the last three months of 2024, making it one of two markets, along with Dallas-Ft. Worth, to top 45 million square feet of new leases in the quarter, Cushman & Wakefield reported.
Nationwide, the industrial vacancy rate climbed to 6.7 percent, slightly below the 10-year, pre-pandemic average…