Southern California Commercial Real Estate:
Vacancies Shrink In East Valley
Lack Of New Construction Bolsters Southern California Commercial Real Estate Occupancy Numbers
The "East Valley", or the "Inland Empire" as it's also known, is seeing a rise in Southern California commercial real estate occupancy numbers. This rise can be traced mostly to a lack of new industrial construction. This lack is causing current occupants to renew their expiring leases and remain where they are. Additionally, the economy is generally improving, and that means that more companies are positioning themselves with leases that are affordable now and might be more expensive later.
Here's an article by Jack Katzanek in the Press-Enterprise that explains the details:
"The owners of distribution and manufacturing properties in Inland Southern California would just as soon not remember 2009, when one-fifth of all those properties sat vacant. But the most current data in that area will certainly help wipe some of …"
Southern California Commercial Real Estate Market
Appears To Be Firming Up
The commercial real estate market in Southern California has been posting numbers indicative of a "recovery" for a while now. This appears to be true for the first quarter of this year as well.
Southern California Commercial Real Estate.