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Los Angeles Leads Nation in Industrial Vacancy

Updated: May 13

Los Angeles is leading the nation for industrial vacancy rate. According to a new report from Newmark Knight Frank, the market has a 1.3% vacancy rate and has seen 21 consecutive quarters below 2%. Net absorption also continues to outpace new construction activity, with 4.7 million square feet absorbed in 2019. The activity is largely attributed to the robust port system in the Los Angeles area.

The port system isn’t the only factor driving industrial activity to record highs year-after-year. McMillan notes the manufacturing industry and supply shortage are also putting downward pressure on the availability rate.

Competition for new supply will remain fierce, and vacancy should hover in the 1.0% range. Finally, we expect rents to increase by 6.0% +/- in 2020.

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The information above has been obtained from sources deemed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for illustration only and do not represent the current or future performance of the property.