Inland Empire Industrial Holds Strong in First Quarter

GlobeSt.com   |   Kelsi Maree Borland

Posted In — News & Press | In the News

The Inland Empire industrial market held strong through the first quarter. The impact of the coronavirus pandemic has shown up in some quarterly reports for other asset classes; however, according to research from Kidder Mathews, the Inland Empire did not show any signs of slowing at the start of the year, despite the disruption. The quarter closed with industrial vacancy down 20 basis points to 4% and net absorption of more than 6 million square feet, including a 1.2 million-square-foot lease signed by Kimberly-Clark Corp.

“We had pretty good momentum from the fourth quarter of 2019 into 2020, and we have had three years of very strong metrics and momentum that has carried us year-over-year into a very positive climate and activity,” Dave Burback, SVP and managing director of Kidder Mathews’ Inland Empire office, tells GlobeSt.com. “If you broke the quarter down into thirds, the first two months of the year were very positive. It started to take a toll in March.”

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