With fourth quarter numbers indicating that the East Valley market has stabilized in 2011 and is projected to recover in 2012, gross activity in the fourth quarter was at 5.7 million SF, which helped to propel the year’s total activity to 22.7 million SF. Investment and leasing activity continues with investments and lease renewals accounting for over 3.4 million SF of the total gross activity for the quarter and 12.1 million SF for the year, a 17.4 percent increase over the previous year and almost six times that of 2009’s figure.
Other report highlights, which were prepared by Caroline Payan, marketing & research director of Lee & Associates Riverside, include market absorption, vacancies, sales prices and lease rates and projects under construction. The report is divided into three market segments: East Valley, Corona/Norco and Southwest Riverside County.
“We are happy that the market appears to have stabilized and is not showing signs of regressing,”
For more information on the Riverside industrial market, visit Lee & Associates Riverside’s web site at: http://www.lee-
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Celebrating 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 45 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, New Jersey, New York, Nevada, Texas, South Carolina and Wisconsin. With a roster of more than 600 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com