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Vacancy Rates Continue To Rise As Industrial Demand Remains Soft
Industrial demand remains muted as the regional economy suffers through yet another quarter of recession. The vacancy rate has increased 40 basis points over the previous quarter from 4.0% in Q1 to end at 4.4% in Q2, the highest vacancy rate the Central Los Angeles industrial market has seen in over five years.
Due to this current industrial contraction, sales and leasing activity rests at 2.6 million SF, below the 5 year average of 3.5 million, but is showing signs of improvement over recent lows. Not reflected in these numbers are industrial renewals that occurred as tenants renew for short terms from leases that were signed one or two years ago.
Contact Thomas Galvin at 909-937-6309 for more information.
  INDCLA09Q2.pdf
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