Quarterly Report Q3 2024
Jones Industrial Team / April 3, 2026
Shifts in deal terms, halts to ground breakings, and the perpetual need for logistics all have shaped the current conditions of the Inland Empire industrial market. Deals are getting executed as landlords are coming to terms with the new market dynamic. Tenants are taking their time when it comes to selecting locations. As the peak of the market has passed and the construction dust begins to settle, both owners and occupants can assess where the fundamentals of the market have landed and will most likely remain for a while.
Pre-leasing industrial space has become less prevalent in the present market. 93% of the development pipeline is available; specifically, every single industrial building under construction in the West is available. The hesitancy to lease up unfinished space further lingers to newly delivered facilities. Nearly 71% of the product delivered in this past quarter is available, while over half of all 2024 builds remain available, demonstrating the rationale for the 63% decline in construction (from its peak in 2Q23).
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Established in 1987, Lee & Associates – Ontario has been the highest producing and grossing Lee & Associates office in the country for the last 10 years consecutively, as well as one of the highest grossing commercial real estate firms in the country annually. Since its inception, the Jones Industrial Team has consistently ranked among the top producing teams, contributing to the overall success and reputation of the firm.
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