Summary
Forecast: High office-vacancy rates will persist in the I.E.
An economic forecast by USC's Lusk Center for Real Estate Development says that an abundant supply of new office buildings in the Inland Empire is still attracting tenants from health care, but it will take time for that space to be absorbed. Elevated vacancy rates will persist due to high unemployment, but the trade-based submarkets near L.A./Ontario International Airport should recover more quickly than the rest of the region. The area's feverish industrial development will take a break with the slowing global economy. The rate at which speculative warehouse space is absorbed is a concern in some eastern submarkets facing large amounts of new supply and softening demand. With slower leasing and sales activity, developers are continuing to hold off on new projects, and rents should stabilize around current levels.See the full content of this document
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