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.

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