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A Year Of Negative Net Absorption
2008 was a difficult year for the San Gabriel Valley Industrial market. Vacancy rates went from 1.3% at the beginning of the year and now stand at 4.9%, the highest level since 2001. Asking rents, however, have remained mostly flat. This reluctance to lower asking rents has led to lower levels of sales and leasing activity as the expectations gap between landlords and tenants has remained wide. As a result, the time properties have stayed on the market has increased over the past year. Both tenants and landlords are waiting for signs as to which way the economy is leaning in order to make long term plans.
Contact Thomas Galvin at 909.937.6309 for more information.
  INDSGV08Q4.pdf
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