Appetite for IE Land, Properties Is ‘Insatiable'

INLAND EMPIRE, CA-The desire to own and develop industrial properties in the Inland Empire is so great that investor and developer appetites are “insatiable,” according to a panel of experts at RealShare Inland Empire here yesterday. The frenzy to buy large parcels of land and develop large industrial buildings for end users that are gung-ho on this market is making these parcels harder to find.

Kim Snyder, president, southwest region, for Prologis, said that while the northern part of the Inland Empire is “dormant,” IE West is hot, and 2013 saw 7.5 million square feet of absorption. “There’s tremendous momentum here, although there are land constraints.”