Lee & Associates Riverside Releases Q4 Industrial Market Summary

Jan. 6, 2012 - PRLog -- The Riverside office of Lee & Associates, the nation’s largest broker-owned commercial brokerage firm, has released its Fourth Quarter 2011 Industrial Market Summary for manufacturing/distribution buildings for the East Valley Market in Southern California’s Inland Empire.

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,” said Lee & Associates Riverside President David Illsley. “Like in the previous two quarters, gross activity remains active and confirms that the industrial market in the East Valley is continuing its recovery process, as evidenced by decreasing vacancy rates.”

For more information on the Riverside industrial market, visit Lee & Associates Riverside’s web site at: http://www.lee-associates.com/global/office-detail.php?id=14

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About Lee & Associates:
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