X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The Inland Empire is becoming the next frontier for multifamily investors looking for opportunities in Southern California. The region has seen tremendous job and population growth—thanks in large part to the industrial sector—and it has created strong fundamentals for the multifamily market. According to a recent report from NorthMarq Capital, the vacancy rate fell to 3.2% last year, and asking rents grew 3.5% year-over-year to an average of $1,349 per month.

“A strengthening job market has sparked demand growth,” Shane Shafer, managing director with NorthMarq Capital, tells GlobeSt.com. “The Inland Empire has been adding jobs at a faster pace than California and the US as a whole. We are seeing job gains recorded across several different industries, the largest being the warehouse and logistics industry followed by the education and health services sector. Whenever you bring jobs, you bring population and create some good apartment fundamentals. That has led to interest and rent growth in the area. These phenomenal fundamentals are driving the market and driving investors to invest.”

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
  • 3 free articles* across the ALM subscription network every 30 days
  • 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

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.