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AVAILABLE: ±25,660 SF of Land

ZONING: I2

TERM: 3-5 Years

• Block Wall

• Paved Yard

• Power and Water Available

• Office Trailer

• Close to 60, 71 and 10 Freeways

Lee & Associates is proud to announce the successful leasing of a highly desirable ±6,670 SF industrial facility located at 1402 & 1404 Daisy Avenue in the heart of Long Beach, CA 90813.

This top-tier property, situated on approximately 0.3 acres, offered an exceptional combination of location and functionality that made it perfect for port-related and logistics users:

• Prime Location: Adjacent to the Port of Long Beach with immediate access to the 710 Freeway
• Functional Layout: Four (4) loading doors, secured fenced & paved yard, and two (2) street accesses
• Flexible Space: High-quality building divisible into two units
• Zoning: IG (General Industrial)
• Lease Rate: $1.50/SF Net | 3–5 year term

The property’s strategic proximity to one of the nation’s busiest ports, combined with its excellent freeway connectivity and secure yard space, attracted strong interest and ultimately led to a swift lease transaction.

Congratulations to Principal Ron Mgrublian and the entire Lee & Associates Long Beach team on another successful closing!

Looking for industrial space near the Port of Long Beach or throughout Southern California? Contact Ron Mgrublian at (562) 354-2537 or rmgrublian@leelalb.com for current availabilities.

·  Industrial space demand has softened, raising the vacancy rate from 1.8% to 5.5% over eight quarters. 

·  Net absorption in 2024 hit its lowest level in over a decade. 

·  Rental rates continued to decline throughout 2024. 

·  Available sublet space reached a record high. 

·  Tenant activity remains weak, indicating slower business growth plans. 

·  Market uncertainty is tied to the U.S. elections and potential tariff impacts. ·

  Leasing activity fell 5.3% for the year, with Q4 down 28% from 2023. 

·  Orange County’s net absorption was negative 1.19 million SF in Q4 and negative 5.27 million SF for the year.

Southbay Submarket Key Highlights (Download Report for Midcounties, Central & Inland Empire Submarkets)

• Vacancy/Availability
  • Vacancy rate in Q4 2024 increased to 5.2%, up 80 basis points from Q3 and 130 basis points year-over-year.
  • High-end properties linger on the market for an average of 7.2 months, giving tenants more leverage in negotiations.
  • Total vacant available space expanded to 10.4 million square feet by the end of Q4.
• Rental Rates
  • Average asking rents fell 1.2% ($0.02) quarter-over-quarter and 8.9% ($0.16) year-over-year.
  • South Bay rents increased 34.1% between Q4 2020 and Q4 2024, reaching $1.63 NNN per square foot.
  • Only 76 lease transactions were completed in Q4, well below the historical quarterly average of 105 transactions.
• Construction
  • 1.37 million square feet under construction across 10 buildings in South Bay.
  • Two new buildings totaling 263,060 square feet were added in Q4 2024.
  • None of the 10 ongoing projects, including six exceeding 100,000 square feet, have been pre-leased, posing risks of higher vacancy rates.
• Leasing Activity/Absorption
  • Net absorption in Q4 2024 was -1.47 million square feet, continuing a negative trend since Q4 2022 (except for Q3 2023 and Q3 2024).
  • New leasing activity totaled 1.19 million square feet, well below the long-term quarterly average of 2.59 million square feet.
  • Average time to lease a building in South Bay increased to 6.4 months.
• South Bay Submarket: Top Leases in Q4 2024
  • 2027 Harpers Way, Torrance: Virco Manufacturing, 10/01/24, 559,000 SF.
  • 24760 S. Main St., Carson: DCW, Inc., 10/22/24, 231,008 SF.
  • 250 W. Manville St., Compton: Kair Harbor Express, 10/01/24, 206,483 SF.
  • 2230 E. Carson St., Carson: JAM-N Logistics, 10/01/24, 198,292 SF.
  • 18111 S. Santa Fe Ave., Rancho Dominguez: Air Products Manufacturing LLC, 10/01/24, 136,980 SF.
• Sales Activity/Investment Trends
  • Q4 2024 sales volume reached $375 million across 14 transactions, up from $163 million in Q4 2023.
  • Average price per square foot rose 36% quarter-over-quarter and 15.6% year-over-year, reaching $386.48.
  • Capitalization rates increased 160 basis points to 6.0%.
  • The Federal Reserve cut rates by 100 basis points in 2024, with further cuts expected in 2025.
  • Investor activity remains cautious amid policy uncertainties.
• South Bay Submarket: Top Sales in Q4 2024
  • 2501 Rosecrans Ave., Los Angeles: Rexford Industrial Realty, Inc., 12/06/24, 300,201 SF.
  • 18500 Crenshaw Blvd., Torrance: Gpjco Properties LLC, 12/05/24, 180,269 SF.
  • 2550 El Presidio St., Carson: Caroline Tseng, 10/31/24, 130,055 SF.
  • 15914 S. Avalon Blvd., Compton: Access Services, 12/02/24, 75,431 SF.
  • 14455 S. Broadway, Gardena: Aleah Miller, 11/27/24, 58,723 SF.

AVAILABLE: ±27,896 SF (±0.64 Acres) of Land

ASKING RATE: $7,500 per month($0.27 PSF gross)

ZONING: B/R-MU

• Short Term Lease

• Truck Parking Possible

• Fenced Yard with Aggregate

• Water/Power Possible

• Close to 10 and 210 Freeways

Lee & Associates is proud to present 12793 Garvey Avenue, a highly functional ±20,847 SF industrial building situated on nearly an acre (±40,847 SF) of land in the heart of Baldwin Park, California. Listed for sale with a negotiable price, this freestanding property offers an outstanding combination of location, visibility, and operational efficiency — ideal for owner-users, investors, or businesses seeking a strategic San Gabriel Valley foothold.

Key Highlights:

• Unbeatable Freeway Visibility – Positioned directly along the heavily traveled 605 and 10 freeways with daily traffic counts exceeding 200,000+ vehicles, providing exceptional signage and branding exposure.
• Building Specifications – 24’–27’ warehouse clearance height, 1,600 Amps of power, three (3) ground-level loading doors, and a spacious fenced and paved yard.
• Ample Parking & Yard Area – 42 on-site parking spaces plus a large secured yard perfect for truck maneuvering, outdoor storage, or future expansion.
• Strategic Infill Location – Minutes from the 605, 10, 210, and 60 freeways, offering seamless access to Los Angeles, Orange County, and the Inland Empire.
• Zoning – I-C (Industrial-Commercial), Baldwin Park, allowing for a wide variety of industrial and commercial uses.  Cannabis Permitted Area.

The property features a clean, open warehouse layout with high ceilings, abundant natural light, and flexible office configurations. Whether you’re a manufacturer or distributor, 12793 Garvey Ave delivers the infrastructure and accessibility needed to support growing operations.

Contact:

Ron Mgrublian, Principal 

Lee & Associates – LA/Long Beach 

P: (562) 354-2537 

E: rmgrublian@leelalb.com

DRE# 01902882

This rare offering combines high-image freeway frontage with functional industrial improvements in one of Southern California’s most supply-constrained submarkets. Opportunities like this don’t last long — schedule your tour today!

GDP Growth: 

• U.S. GDP grew at an annualized 2.8% in Q3, slightly below Q2's 3%.
• Consumer spending rose 3.7%, the fastest since Q1 2023, but residential investment dropped 5.1%, its second consecutive decline.
• Inflation hit the Fed's 2% target, with unemployment steady near 4%.

 Employment: 

• 254,000 jobs were added in September, the largest gain in six months.
• The unemployment rate fell to 4.1%, while wages increased 4% year-over-year.
• Upward revisions to prior months' job numbers highlight ongoing labor market resilience.

 Monetary Policy: 

• The Federal Reserve cut interest rates by 0.5% in September, lowering the federal funds rate to 4.75%-5%.
• Strong job data makes further significant rate cuts unlikely.
• Fed Chair Powell emphasized balancing inflation control with stable employment.

 Global Economy: 

• IMF projects global growth of 3.2% for 2024-2025, with risks from regional conflicts and trade disruptions.
• Emerging Asia sees growth upgrades due to semiconductor demand, while Europe faces downgrades.
• Global inflation is expected to decline from 6.7% in 2023 to 5.8% in 2024 and 4.3% in 2025.
• Long-term growth remains constrained by aging populations and weak productivity.

• The Inland Empire West submarket experienced a stall in net activity during Q3.
• Subleases and renewals dominated top lease transactions.
• Vacancy rates increased slightly, while availability trended downward.
• Pricing remained steady, but tenant concessions (e.g., free rent, tenant improvements) have risen and are now widely expected.
• Industrial construction slowed significantly, with the development pipeline at 43% of its year-over-year level.
• Institutional interest in the market continues to grow despite reduced activity.

AVAILABLE: ± 36,000 SF Lot Land

BUILDING SIZE: ±18,000SF

ASKING PRICE: $298 PSF ($5,364,000.00)

APN#: 6129-006-020 & 6129-006-021

ZONING: LA Unincorporated M2

• Free Standing Industrial Building

• Fenced/Paved Yard area

• Dock High Possible

• No City Business Tax

• 3 Ground Level Doors/4 Bathrooms

• Solar Lighting

• Bonus Unfinished Mezzanine

• Glass Kiln/Oven

• Close to 110, 405, 91 and 105 Freeways

• In Q3 2024, San Gabriel Valley's industrial market remained robust with a 6.3% vacancy rate.
• Rental rates softened slightly, now at $17.76 per square foot (PSF), NNN annually, indicating a balanced supply-demand dynamic.
• The construction pipeline remains active, with 545,702 square feet of new industrial space under development.
• The City of Industry, a dominant player in the area, accounts for 72% of SGV’s industrial space, focusing on modern Class A warehouse and distribution centers.
• As market conditions shift, tenants and developers must stay agile, seizing opportunities and addressing challenges in this thriving industrial landscape. Adaptability will be essential for maintaining a competitive edge.

• Demand for industrial space weakened countywide in Q3, with an increase in sublet space.
• Vacancy rates are the highest since 2013 but still 200 basis points below the national average.
• The decline in net absorption is the largest year-to-date drop in 15 years.
• Average rents fell for the seventh consecutive quarter.
• Countywide negative net absorption in Q3 totaled 1.3 million SF, bringing the annual total to 4.1 million SF, the highest since the 2008 financial crisis.
• The average triple-net rental rate dropped to $1.59 per SF, down from the $1.71 peak at the end of 2023.
• Q3's 5% vacancy rate is an increase from 2% in Q1 2023.

In Q3 2024, the South Bay submarket saw a continued increase in vacant space, with the vacancy rate rising to 4.4%, up 20 basis points from Q2 and 50 basis points year-over-year. Tenants are becoming more selective, taking advantage of longer decision-making periods. Despite a 7.8% year-over-year decline in average asking rents, rents remained somewhat resilient due to concessions from landlords.

Leasing activity included 1.37 million square feet of new deals, though it was below the 10-year average. Net absorption was positive for the first time in a year, at +669,007 square feet. Construction continues with 1.5 million square feet in progress, which could impact vacancy rates if demand doesn't catch up.

Sales activity increased from Q2 but remained significantly lower than in 2023. Sales volume reached $71.9 million, and average prices per square foot dropped 22.5% year-over-year to $258.92.