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1/29/20
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The Inland Empire topped the list of the 100 largest warehouse deals in the U.S. last year with 21 transactions totaling 17.5 msf, according to a new report from CBRE.
The Inland Empire outperformed the next closest market (PA I-78/81 Corridor) by 10 msf. E-commerce users accounted for 13 of the transactions, ranging in size from 598k sf to 1.4 msf. While major e-commerce players dominated most of the deals in 2019, growth also came from traditional retailers that implemented omnichannel strategies to satisfy the rise in online sales as well as the expanding food and beverage industry.
“The Inland Empire continues to lead because it is basically five years ahead of any other market in the nation,” said Kurt Strasmann, executive managing director based at CBRE’s Newport office and Southern California functional industrial & logistics market leader. “It is the destination for especially large users due to the amount of quality product. Every industrial developer is here because of our strategic location close to the ports, our business infrastructure and our large local consumer base. It all started here, will continue to be here, and it will remain to be ahead of any other U.S. region for the foreseeable future.”
Market
Total Square Footage
Number of Leases
Inland Empire
17.5 million
21
Pennsylvania’s I-78/I-81 Corridor
7.5 million
8
Memphis
6.9 million
9
Dallas-Fort Worth
6.1 million
7
Atlanta
5.4 million
6
Indianapolis
4.4 million
6
Chicago
4.2 million
5
Northern New Jersey
3.3 million
4
Columbus
3.2 million
4
Tulsa
2.6 million
1
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