I.E. industrial vacancy rates keep rising, while rents fall

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   The fast-pace construction of industrial buildings in eastern San Bernardino and Riverside counties has made the real-estate market "a victim of its own success," according to a third-quarter report by commercial real-estate broker Colliers International.

   About 20 percent of industrial buildings across the San Bernardino-Riverside metro area are empty, the report says, which is a clear sign that commercial developers overbuilt for the local market. Most professionals consider a 10 percent vacancy rate a healthy market.

   The industrial vacancy rate in the Corona-Ontario-Rancho Cucamonga region stood at about 8 percent.

   The report predicts vacancy rates to rise even more in the fourth quarter and rental rates to keep dropping.

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This page contains a single entry by Matt Wrye published on October 16, 2008 10:15 AM.

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