Riverside-San Bernardino, referred to as the Inland Empire, posted stronger gains than its larger neighbor Los Angeles along with every other metropolitan area in California. Marcus & Millichap ranked Inland Empire as 14th on its list of 46th markets in the country. The metro is known and recognized as an industrial hub for the region. A major driver of increased growth in the Inland Empire has been high prices in nearby Los Angeles.
Amazon will be investing in a 4.1m square feet site in Ontario, CA to develop a mega warehouse. The new project is to be located across the street from one of its smaller distribution centers.
Rexford Industrial spent $205 million on warehouses.
Staley Point Capital purchased 2 development sites in Corona, CA and the other in Fontana. Both will be transformed into industrial properties.
Duke Reality has launched 6 new projects in both the Inland Empire and Orange county.