02Feb

The Industrial Market Report for the San Gabriel Valley Submarket of Los Angeles in the Fourth Quarter of 2023.

During the fourth quarter of 2023, the San Gabriel Valley Industrial Submarket of Los Angeles experienced a continuation of the trend where available space increased once again, marking a significant factor in the local industrial real estate landscape. This rise in available space suggests potential shifts in market dynamics, such as increased supply or adjustments in tenant demand, influencing the overall vacancy rates in the submarket. 

The submarket faced a minor setback in terms of average rents, which decreased by $0.07 to $1.56 NNN (Triple Net Lease). This decrease may be attributed to the delicate balance between supply and demand, tenant negotiations, and broader economic factors that impact the pricing dynamics of industrial properties in the San Gabriel Valley. 

Within the Pomona Industrial Market, warehouse buildings in the fourth quarter of 2023 had an average sale price of $308.76 per square foot (PSF). This figure provides valuable insights into the local market's pricing dynamics, reflecting the perceived value of industrial properties in Pomona during that specific quarter. 

In the neighboring City of Industry, the average sale price per square foot for warehouse buildings stood higher at $351.68. This higher price point suggests that the City of Industry maintained a premium position within the San Gabriel Valley, potentially due to factors such as strategic location, specialized facilities, or a higher level of demand in that specific submarket. 

Looking at the San Gabriel Valley Industrial Market as a whole, the average sale price settled at $304.52 PSF during Q4 of 2023. This comprehensive figure encompasses the performance of various submarkets within the San Gabriel Valley, highlighting the overall pricing trend for industrial properties across the region. 

In summary, the fourth quarter of 2023 witnessed an increase in available space in the San Gabriel Valley Industrial Submarket, coupled with a slight decrease in average rents. The variations in average sale prices across specific markets, such as Pomona and the City of Industry, add complexity to the overall real estate landscape. Stakeholders and investors may find value in analyzing these trends to make informed decisions in response to the evolving dynamics of the San Gabriel Valley's industrial real estate market.

11Jan

Some of my recent commercial real estate transactions and available properties from the Pomona, Montclair & Upland California areas.

25Oct

The San Gabriel Valley Industrial Real Estate Market Report for the 3rd Quarter of 2023.

The industrial sector in the San Gabriel Valley continues to exhibit resilience and robustness, even in the face of a minor uptick in the vacancy rate, which now stands at 3.3%. This small increase in vacant industrial spaces has not had a significant adverse impact on the market. Rental prices have experienced only a slight dip since the previous quarter, currently averaging at an annual rate of $18.96 per square foot on a triple-net lease basis. 

Despite these minor fluctuations, construction activity in the San Gabriel Valley remains steady and thriving. A substantial 5.3 million square feet of new industrial developments are currently underway, illustrating the enduring demand for industrial properties in the region. 

However, it is essential to note that a moratorium in Pomona, California, affecting warehouses, trucking facilities, and other industrial-related uses, is poised to expire by the close of 2023. This pending expiration of the moratorium introduces an element of potential opportunity into the local industrial landscape. Both tenants and developers should keep a watchful eye on market dynamics and remain flexible in their strategies, ready to pivot to seize emerging opportunities in this ever-evolving industrial market in the San Gabriel Valley. 

In conclusion, the San Gabriel Valley's industrial sector is in a state of transition, with various factors in play, from the rise in vacancy rates to the imminent expiration of the Pomona moratorium. Adapting to these changes and staying well-informed about market shifts will be crucial for those involved in the industrial real estate market in this dynamic and resilient region.

03Oct

The 4,524 square foot property at 1249 E. Holt Ave in Pomona, CA is now on the market For Lease!

• Great Visibility

• Large Fenced and Paved Yard

• High Traffic Area

• City Gateway Segment

• Bonus Storage Downstairs (not included in SF)

29Sep

The 1.22 Acre Industrial Land Site on West Holt in Pomona is on the market For Lease.

AVAILABLE: 1.22 AC - (53,143 SF) Industrial Land

ZONING: Urban Neighborhood

• Truck Parking or Ourdoor Storage possible

• Cannabis Overlay Zone

• Excellent Access To The 71, 57 And 10 Freeways

14Sep

The ±4.37 industrial site is now on the market for sale or lease, multifamily and industrial warehouse possible.

±4.37 Acres of Land

Lease Rate $0.25 gross

Truck Parking & Outdoor Storage Possible

Mixture of Zoning by Parcel (Majority of M1)

MidTown Segment (2 Parcels) and SB 330 (1 Parcel)

70 Units Per Acre (306 Total) Low Income Housing Possible

14Aug

The ±111,078 SF Fenced and Paved site in the middle of the San Gabriel Valley & Inland Empire-West markets just leased!

The unique ±2.55-acre site in Unincorporated San Bernardino County between Pomona, Chino and Ontario, CA leased to a local truck body and van equipment company.

According to CoStar there is little industrial land available in the submarket, leading to less activity in this area than the larger markets to the East.

Ron Mgrublian is a Commercial Real Estate Broker focusing on Industrial Real Estate and Warehouse Properties with Lee & Associates in the Southern California area.

20Jul

The 2023, 2nd Quarter Industrial Real Estate Market report for the San Gabriel Valley, submarket of the LA Industrial Market.

The San Gabriel Valley Industrial Market remains robust.

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

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.

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