Vacancy is trending towards 7%

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JLL Research just released its quarterly highlights of the U.S. industrial sector – we’ve identified some key observations:

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  • Speculative builders are generally pacing new deliveries, and – in the midst of consistent tenant demand – national vacancy is declining.
  • Dallas/Fort Worth and Chicago now lead the Inland Empire in total construction activity.
  • Gateway corridors continue to perform, while users with larger space needs are still exploring secondary markets.

Some developers are thinking about launching some speculative industrial space. But construction will likely not start for another year for occupancy in 2016 or 2017. A lot of developers are dusting off old plans they had before the recession. San Diego never got as busy or as slow as larger markets like Los Angeles, but those tend to recover faster.

Ryan Grove
Senior Vice President, JLL San Diego

Read our Industrial Highlights for a quarterly look at industrial leasing, sales and construction activity in the U.S. as a whole, as well as San Diego. For a local perspective, you can read this article in The San Diego Union-Tribune.

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