Inland Empire Renewal Wave Tops 3.6MM SQFT as Landlords Cut Rents to Keep Warehouse Tenants

Inland Empire warehouse tenants that held off on real estate decisions through a stretch of tariff swings and economic uncertainty have reached their lease expirations and are now renewing in volume, with Savills counting more than 3.6 million square feet of renewals in the third quarter, led by Wayfair's 2 million square feet in Perris, while broker data shows landlords giving up rent and concessions to keep those tenants.