RIVERSIDE, CA—The Riverside office of Lee &Associates, the nation's largest broker-ownedcommercial real estate firm, gave GlobeSt.com anexclusive sneak peak at the firm's third quarter2014 Industrial Market Summary for manufacturing/distributionbuildings for the East Valley Market in Southern California'sInland Empire.
The summary reports that even with tremendous lack of inventory,the third quarter still posted strong activity and grossabsorption. Absorption in 2013 of just under 14.8 million squarefeet surpassed the figures seen in 2012, and represented thelargest amount of square feet absorbed annually in the history ofthe marketplace.
The report also found that gross activity in the third quarterwas just under 4.6 million square feet, with investment purchasesand lease renewals accounting for 42% of the total.Demand for distribution buildingscontinues to outpace new supply due to increased port activity andincreased consumer confidence.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.