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Vacancy Rates Begin To Ease, Average Asking
Rental Rates Continue To Increase
Average asking rental rates have increased 4.2%, or $0.02, over the previous
quarter to end at $0.60 NNN PSF. Vacancy rates for the San Gabriel Valley
have remained very low, ending at 1.6% for the quarter, slightly above
1.3% from the previous quarter. Average sale prices per SF for Q1 2008
have declined 5%, or $6 PSF, from the previous quarter to end at $117 PSF,
down from $123 in Q4 2007. Demand for industrial space within the San Gabriel
Valley remains exceptionally high and low vacancy rates continue to put
upward pressure on rents.
Occupied available space has remained fairly stable over the past year,
representing around 1.5% of the base. These buildings are for sale but
are currently occupied; they are being marketed to owner/users who can
afford to buy out tenants from their existing leases or investors who are
looking for a fully leased building. The average asking sales price for
these buildings is $158 PSF, which is much higher than the average sales
price for buildings which actually sold during the quarter at $117 PSF.
Contact Thomas Galvin at 909.937.6309 for more information.
  INDSGV08Q1.pdf
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