Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The industrial market is undeniably strong throughout Southern California, but while the costal markets are suffering from a severe supply shortage, land shortage and dramatically increasing rental rates—a problem only from the tenant perspective—the Inland Empire market is seeing a happy equilibrium between supply and demand, along with steadily rising rental rates that are still a discount to the coastal markets. We sat down with Frank Geraci, EVP and partner at Voit Real Estate Services who recently secured a $33 million lease of a 750,000 square-foot industrial warehouse in the five-building Shea Center Ontario business park in Ontario, California, to get an inside look at the leasing activity in the Inland Empire.

GlobeSt.com: In general, what has the industrial leasing activity in the IE been like this year and how does it compare to the same time in 2017?

Frank Geraci: Industrial leasing continues to perform exceptionally well in the Inland Empire, driven most prominently by the availability and quality of the product. Industrial users seeking space in Southern California are increasingly expanding their search to Inland Empire facilities based on tremendously tight, sub-one-percent vacancy in nearby markets such as Orange County and Los Angeles, and the need for buildings that can accommodate today’s logistical needs for “cube” and velocity.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.