Apex Real Estate Services · DRE #01422904 · CCIM-Led
Hemet, CA · (951) 977-3251
An industrial real estate broker represents one side of a warehouse, flex or yard deal: the tenant, the owner, the buyer or the seller. Apex advises Inland Empire and Coachella Valley industrial clients on all four sides, underwriting every recommendation before making it.
Apex’s analysis of CoStar data (Q3 2026). Source: CoStar.
An industrial real estate broker represents one side of an industrial lease or sale: the tenant, the owner, the buyer or the seller. The job is to price the deal from closed comparables and current market data, run the search or the marketing campaign, negotiate total economics rather than just the rate, and manage the transaction through closing.
Apex takes tenant, landlord, buyer and seller assignments, plus 1031 exchange and sale-leaseback advisory, on everything from flex suites to outdoor storage yards. Assignments are led by Robert Mendieta Jr., CCIM, backed by more than 20 years of commercial real estate experience.
Tenants, owners, owner-users buying a warehouse, and sellers or investors. Each needs a different plan from its industrial real estate agents, and Apex works all four.
A tenant-side warehouse broker surveys direct, sublease and off-market space, then negotiates rent, free rent, term and options. Sublease space is 19% of availability and trades more than 20% below direct space.
An industrial leasing broker prices vacant space from transacted comps rather than the last rent signed in the building, then markets it and vets tenants. Apex runs exclusive agency leasing for small-bay industrial owners.
Owning can beat leasing. The SBA 504 loan program provides long-term, fixed rate financing for major fixed assets such as buildings and land; the maximum 504 loan amount is $5.5 million.
An owner-user can sell its building and lease it back to free trapped equity. Investors price against cap rates that have expanded to the mid 5% to 6% range on logistics sales above $10 million.
Sale-leaseback · 1031 exchange advisory · Inland Empire industrial cap rates
Logistics, specialized industrial and flex buildings, plus outdoor storage yards. CoStar splits the market into those three building subtypes, and they behave differently.
| Subtype | Inventory (SF) | Vacancy | Asking Rent / SF / Mo | Availability | Under Construction (SF) |
|---|---|---|---|---|---|
| Logistics | 675,577,960 | 9.5% | $0.97 | 13.6% | 13,564,028 |
| Specialized Industrial | 104,133,600 | 3.9% | $1.33 | 5.9% | 461,706 |
| Flex | 16,152,702 | 6.2% | $1.55 | 6.7% | 0 |
| Total market | 795,864,262 | 8.7% | $1.03 | 12.5% | 14,025,734 |
A tenant needing specialized space shops a market at 3.9% vacancy; a logistics tenant shops one at 9.5%.
In industrial outdoor storage (IOS), the yard itself — truck parking, trailer staging, container and equipment storage — drives the income. Recent Apex industrial leases, as listed on recent transactions:
An occupier’s market with a thinning pipeline. Vacancy is 8.7% and availability 12.5%, a 15-year high, at a $1.03/SF monthly asking rent, per Apex’s analysis of CoStar data (Q3 2026).
Demand is real: leasing totaled around 50 million SF in 2025, and the second quarter of 2026 set a quarterly record of over 13 million SF. Construction underway has fallen to 14.0 million SF from 45.7 million SF in 2022. CoStar forecasts vacancy falling to 8% in 2027 — a forecast, not a promise.
The Airport Area submarket, which CoStar says includes Ontario, Rancho Cucamonga and Fontana, holds 32.6% of inventory. Asking rent runs from $1.45/SF in Coachella Valley to $0.86/SF in Moreno Valley/Perris, and vacancy from 4.3% in Coachella Valley to 19.7% in Beaumont/Hemet.
The metro counts 452,300 trade, transportation and utilities jobs, per the Bureau of Labor Statistics (August 2026, preliminary).
Note: CoStar submarkets are not city limits.
For all 15 submarkets, see the Inland Empire industrial market report and Apex’s guide to warehouse availability by submarket.
Because most Inland Empire industrial deals are small, and the small end behaves differently from big-box headlines.
Across 463 sale comps in the past 12 months, the median building size was 16,648 SF, the median ceiling height 18 feet, the median dock count zero, and the median price $3,500,000.
Availability is under 7% below 50,000 SF but 18% at 250,000 to 500,000 SF. A small-bay user competes for scarce space; a big-box user shops a crowded field. See what warehouse space costs.
Sales are recovering gradually: 425 deals closed in 2025, up from 393 in 2024.
On large deals, almost always. In Apex’s count of CoStar’s table of the 40 largest Inland Empire industrial leases of the past 12 months, 37 listed at least one tenant-rep or leasing-rep company.
Of those 40, 32 listed a leasing-rep company and 27 a tenant-rep company. Every lease in that table is 413,062 SF or larger, so it describes big-box deals only.
On a lease, the landlord customarily pays the tenant’s broker out of the lease, by agreement, confirmed in writing before any letter of intent. For California agency rules on leases, see Apex’s tenant representation guide.
In six stages, the same for a tenant search, a leasing campaign or a sale.
Ask whose side they are on, how they are paid, whether they price from closed deals, and whether they work your size band. For the California rules on duties and pay, see what a commercial real estate broker does.
| Question to Ask | Why It Matters in the IE Now |
|---|---|
| How are you paid, and is it in writing? | Structure varies deal to deal; confirm it in writing before any letter of intent. |
| Do you price from closed deals or asking rents? | Asking rent is more than 25% below its 2023 peak, and free rent is common on larger, longer leases. |
| Do you work my size band? | Under 7% availability below 50,000 SF versus 18% at 250,000 to 500,000 SF. |
| Will you show sublease space? | Sublease is 19% of availability and trades more than 20% below direct space. |
| When should my renewal start? | Asking rents are still up approximately 20% from five years ago. |
| Do you track warehouse siting rules? | California’s AB 98 warehouse law affects new warehouse siting. |
| Is the broker a CCIM? | The CCIM Institute pin denotes advanced financial and market analysis coursework; over 9,000 people hold it. |
It represents one side of an industrial lease or sale: defining the objective, underwriting comparables, setting a written strategy, running the search or marketing, negotiating total economics, and managing the deal to closing. Apex takes tenant, landlord, buyer and seller assignments.
On a lease, the landlord customarily pays the tenant’s broker out of the lease, by agreement. Structure varies deal to deal, so it is set in the engagement agreement and confirmed in writing before any letter of intent.
Leverage remains with occupiers, per CoStar’s Q3 2026 data: availability is 12.5%, a 15-year high, with asking rent more than 25% below its 2023 peak and free rent common on larger leases of five years or longer. CoStar forecasts vacancy falling to 8% in 2027, so the window may narrow.
Small buildings are the tightest part of the market: availability is under 7% below 50,000 SF, so finding space is often the hard part. Recent Apex leases include 370–390 S I Street (±7,000 SF, San Bernardino, industrial) and 609 W Luis Estrada Rd (±½ AC secured yard, Beaumont, industrial outdoor storage).
Yes. Owner-users can finance a purchase with the SBA 504 loan program, which provides long-term, fixed rate financing for major fixed assets such as buildings and land, up to a maximum 504 loan of $5.5 million. Owners can go the other way with a sale-leaseback.
Per CoStar’s Q3 2026 data, the Inland Empire industrial market cap rate is 4.9% and the 12-month average transaction cap rate is 5.9%. Cap rates on logistics sales above $10 million have expanded to the mid 5% to 6% range, from averages below 4%.
The Inland Empire and the Coachella Valley. CoStar divides the Inland Empire industrial market into 15 submarkets, from the Airport Area to Coachella Valley, Moreno Valley/Perris and Beaumont/Hemet. CoStar submarkets are not city limits.
Tell us the square footage, clear height, yard and timing you need, or what you own and what you want it to do. You get a CCIM-led read on your options.
Free consult · No obligation · Inland Empire and Coachella Valley coverage · Office: 3750 E. Florida Ave Suite A, Hemet, CA 92544
Apex Real Estate Services · 3750 E. Florida Ave Suite A, Hemet, CA 92544 · Robert Mendieta Jr., CCIM, Associate Broker · Commercial Division, CA DRE #01422904 · Joseph Lombera · Commercial Agent + CMO · DRE #01971957 · (951) 977-3251. Market figures per Apex’s analysis of CoStar data (Q3 2026); Source: CoStar. Apex Real Estate Services is not a law, tax or accounting firm; for lease, 1031 exchange or financing questions, consult your attorney or CPA. Verify all figures independently before transacting.
