18Jul

The 2nd Quarter 2023 Los Angeles - Long Beach Industrial Real Esate Market Report

Every key metric typically used to measure the health of the economy is performing well right now. GDP grew by 2.0% in Q1, and it is estimated to grow by 2.3% in Q2 by the Atlanta Fed . In terms of employment, over the last year the U.S. added 3.8 million jobs and now has an unemployment rate of 3.6%. With regard to inflation, both headline and core inflation are
trending downward. The Consumer Price Index (CPI) rose by 3% year-over-year in June and 0.2% for the month, below consensus estimates of 3.1% and 0.3%. This was the lowest rate of inflation since March 2021. And core inflation, which excludes food and energy prices, rose by 4.8% year-over-year and 0.2% for the month. The annual core inflation level was
the lowest since October 2021, and its monthly gain was the smallest gain since August 2021.

Most economists, forecasters, and business leaders are anticipating that the Fed will continue to raise rates throughout the year until it reaches its target inflation rate. For this reason, most forecasters still believe a mild and shallow recession is likely within the next twelve months. However, a significant minority are anticipating that the US economy will avoid a recession altogether. For example, in its latest forecast, the National Association of Realtors has the economy growing slowly every quarter throughout 2023 and projects the economy to grow by 1.1% for the whole year. 

Regardless of one’s stance on this issue, it is indisputable that the industrial market is in a favorable position to weather most headwinds the economy might face. Total retail sales grew by 1.6% in May 2023 compared to the same period a year ago , and as a percentage of total sales, e-commerce retail sales (one of the key drivers of the industrial sector) now stand at 15.1% – 3.9 percentage points higher than where it stood at its peak prior to the pandemic in Q4 of 2019. With this said, available space continues to increase and there has been a growing sentiment regarding a shift in negotiating power from Landlords to Tenants

28Jun

The ±39,600 SF fenced yard at 1910 Huntington Dr in Upland, California has leased!

• Fenced yard

• Light Industrial uses

• Water and power available

• Prior Tenant Parked Trucks

• Close to 10 and 210 Freeways

22Jun

The Industrial property at 16400 Garfield Ave in Paramount, CA has leased!

Large Fenced and Paved Gated Yard

Dock High Loading

14'-17' Clear Height

Free Standing Building

High Visibility

Close to 91 & 710 Freeways

16Jun

The West Long Beach Industrial property has leased, contact me for more information.

• Former Food Facility

• Warehouse Floor Drains

• One (1) Ground Level Doors

• Fenced / Paved Yard

• Licensed Cannabis Use Possible at Higher Lease Rate

• Close Proximity to Freeways and Ports

15Jun

The ±36,638 SF property at 353 La Mesa St in Pomona is now for lease!

• Perfect for Contractor Yard

• Light Industrial Uses

• Block Wall to be Built

• Fenced Yard

• Close to 10, 71 and 60 Freeways

18May

The ±39,600 SF property in Upland, California is back on the market for lease. The prior tenant parked trucks.

• Fenced yard

• Light Industrial uses

• Water and power available

• Prior Tenant Parked Trucks

• Close to 10 and 210 Freeways

16May

The 1st quarter of 2023 the Los Angeles - Long Beach Industrial real estate market saw its first material change in a long while.

For the first time in a long time a change in the market materialized in the 1st quarter of 2023 in the Los Angeles – Long Beach Industrial Real Estate Market.  It appears that lease rates may have hit their ceiling for now.  The level of leasing activity in Q1 of 2023 dipped to levels not seen since 2006.  Despite the drop in activity demand for Industrial space remains at top levels and a struggle between historically high rates and the need for space is likely to play out over the next 18 or so months.

01May

The Industrial Real Estate Market in the San Gabriel Valley experienced continued low vacancy, but some rate reductions and landlord concessions are starting to occur.

Demand persisted in the San Gabriel Valley Industrial Real Estate Market in the 1st Quarter of 2023.  Despite new construction coming on-line and slightly higher vacancy rates, functional space remains in short supply.  Direction on the other hand does feel like its shifting somewhat with a few rate reductions and concessions being made by landlords.  

The San Gabriel Valley Market benefits from the region's proximity to major ports, transportation infrastructure and a large population center.  E-commerce and logistics companies are driving much of the demand for industrial real estate, as they seek larger and more functional warehouses and distribution centers to support their operations.

Overall, the San Gabriel Valley industrial real estate market is expected to remain strong in the near term, with continued demand, although rising interest rates do seem to be having a slowing effect on the market.

24Apr

Despite easing of vacancy rates, the Orange County Industrial Real Estate Market remains at historic high levels for lease rates and sale prices.

The industrial real estate market in Orange County, CA is continuing to experience high demand with low vacancy rates. The region’s industrial market is primarily focused on manufacturing and distribution, with industries such as aerospace, defense, and technology driving the demand for space. 

In Q1 of 2023, the average asking rent for industrial space in Orange County was around $1.64 per square foot, which is slightly higher than the Southern California average. Despite the higher rental rates, the market remains attractive, with limited availability and a high demand for industrial properties. 

Overall, the industrial real estate market in Orange County, CA is currently strong, and is expected to continue to attract demand from a range of industries due to its strategic location, desirability and proximity to major transportation routes.

10Apr

Available a fenced and paved ±41,464 SF site, zoning M2, term 3-5 years.

• Fenced and Paved Yard

• Mobile Office

• Power and Water Available

• Close to 60, 71 and 10 Freeways

06Apr

±111,078 SF fenced and paved yard for lease in Unincorporated San Bernardino County in the Inland Empire West.

• Truck and Container Storage Possible

• ±1,500 SF Building• Fenced and Secured Yard

• Unincorporated San Bernardino County

• Close Proximity to 10, 71, and 60 Freeways

07Mar

The ±31,634 SF site (±0.73 Acres) in Pomona, CA is leased!

ZONING: M1

TERM: Two (2) Years

Truck Parking and Outdoor Storage Possible

Lease Rate $0.25 gross

Light Industrial Uses

Fenced and Partially Paved Yard

Close to 10, 71, & 60 Freeways