As of Q1 2018, CBRE has expanded the industrial market statistics coverage
to include the 2,138,818-sq.-ft. Valencia County submarket.
Slower activity and a handful of closures and downsizings contributed to the negative net absorption.
The overall vacancy increased by 53 bps from last quarter to 6.2%.
Valencia County saw 60,000 sq. ft. of completion that was added to an existing manufacturing facility. An approximately 970,000-sq.-ft. data center remained under construction with expected completion of Q4 2018.
The number of tenants currently looking for space in the market is growing, with concentration in the distribution & logistics industry and the warehousing industry.