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.
