A distribution facility spanning 1.2 million square feet in Hesperia, California, has been leased by Maersk from Westcore, making it the largest industrial signing in the Inland Empire for the fourth quarter of 2023. This lease marks a significant deal in the region despite the Inland Empire's industrial market vacancy rising to 6.5 percent due to increased construction completions and available sublease space. Savills expects this vacancy rate to continue increasing throughout the year.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: Not provided
• Square Footage: 1,200,000
• Address: 8140 Caliente Road, Hesperia, California
• Market: Hesperia

Maersk, represented by Vincent Clerc, has secured the lease for this expansive distribution facility. Westcore, represented by Marc Brutten, serves as the landlord in this transaction. This leasing agreement is a prominent development in the Inland Empire, despite the challenges posed by high construction completions and available sublease space in the area.