Quarterly Report Q2 2023
Jones Industrial Team / July 13, 2023
Economic market conditions have disrupted many sectors of the real estate industry. However, the industrial market continues to hold its ground, specifically in the Inland Empire. Overall, lease activity remains healthy with over thirty big-box (100,000 square feet or greater) deals being executed this past quarter, which is more than Q1. About 65% of those transactions were new deals. Total renewal activity among all size ranges took up just 18% of all lease transactions, while about 13% of all deals were subleases.
Despite the strong volume of deals being done, the amount of completed industrial product over the last year has begun to bump the vacancy rate up.
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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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