The Inland Empire Industrial Market experienced a slowdown in the third quarter, but remains fundamentally stable according to a report by Kidder Mathews. Negative net absorption and rising vacancies were driven by various challenging factors such as reduced consumer spending, sluggish international trade, and an increase in new industrial space supply.
Despite these challenges, Kidder Mathews predicts that the market will maintain balance through 2023 and into 2024 due to its proximity to major ports, large population growth, and diverse economy. One of the key trends is a growing interest in sustainable industrial growth along with an increasing demand for e-commerce and last-mile logistics space.
According to Kidder Mathews’ report: “The Inland Empire’s economy continues to demonstrate resilience, adaptability,and importance for California’s economic growth.” However,the market could be impacted by factors like interest rates,economic conditions,and ongoing supply-demand imbalances.
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