California’s Inland Empire has taken as the nation’s top market for industrial construction in the past decade, the Commercial Cafe blog reports.
The market added 307 new projects totaling 131.7 million sq. ft. of industrial space over the past 10 years. Conveniently connected to major ports, freeways and rail lines, the Inland Empire’s location plays a major role in the development of its industrial market.
According to a recent Cushman & Wakefield report, the Inland Empire is leading the nation when it comes to industrial leasing volume, posting 21.8 million sq. ft. of activity in the first half of the year. More than 27 million sq. ft. of space were under construction at mid-year, with the area boasting the strongest pipeline in the nation, according to the report.
“Taking all this into consideration, it’s safe to say the Inland Empire will continue to lead the nation in terms of new industrial development in the near future,” the blog says.
While nationally, local markets in Houston and Fort Worth, TX and Phoenix, AZ are the largest individually, several local Inland Empire markets have been among the nation’s top performers for industrial construction. These include (rankings include national ranking, square footage and number of properties):
The second-largest industrial development on the Commercial Cafe list nationally, is the 2.1 million-sq. ft. property at 301 South Tippecanoe Ave. in San Bernardino. The Class A Inland Empire warehouse and distribution center was completed in 2008, and is owned by Stater Bros. The six-building property also incorporates 120,615 sq. ft. of office space.
The third-largest project on our top-50 list is the 1.8 million-sq. ft. asset at 29800 Eucalyptus Ave. in Moreno Valley. Another Inland Empire development, this Class A project known as the Skechers Factory Outlet was finalized in 2010.