Annual asking rent per sf of big-box property in Inland Empire, CA 2009-2023
The annual taking rent per square foot of big-box building in Inland Empire, California saw two years of dramatic increase in 2021 and 2022, after a long period of steady increase. From 6.59 U.S. dollars in 2020, rents rose to 10.12 U.S. dollars per square meter in 2021. In 2022, rents nearly doubled, reaching 19.31 U.S. dollars per square meter. That was significantly higher than the national average during the same period. Big-box buildings refers to large industrial buildings used for distribution.