Search
 
Analysis

LA, Inland Empire Lead the Way in Industrial Rent Increases

Rent premiums are also high in the Northeast, with New Jersey leases costing 37% more than the national average.

By Lynn Pollack | July 22, 2021 at 07:49 AM

Industrial rent growth has surged while vacancies plunged over the past year in coastal markets, with the Inland Empire and Los Angeles leading the way. 

Fueled by record activity at the Port of Los Angeles, demand for industrial space is at an all-time high in Southern California, according to a new report from Yardi Matrix. The Inland Empire saw rent grow by 7.1% over the last 12 months, while LA posted an increase of 6.7% over the same period. Vacancies clocked in at 2% for the IE in May, and research from JLL released earlier this year shows that the market recorded an impressive 26 million square feet of absorption in 2020.

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?

NOT FOR REPRINT

© 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.

Recommended Stories

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 © 2024 ALM Global, LLC. All Rights Reserved.