RIVERSIDE—Charley Black, SVP of Lee & Associates‘ Temecula Valley Office, has been in the business for 27 years. And yet, he tells GlobeSt.com that he has never seen a market like this one. “The Southwest Riverside County industrial market is in total gridlock with a vacancy rate below 1%.”

Sale prices and lease rates have regained almost all that was lost during the Great Recession, Black continues. “Based on prior market cycles, by now one would expect several speculative industrial developments under construction (it’s always occurred before).”

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