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Article: South Bay, Long Beach vacancies soar as aerospace flight continues. (commercial building space readily available in Southern California as industries move out of area) (Special Report: Quarterly Real Estate Report)
- Article from:
- Los Angeles Business Journal
- Article date:
- March 25, 1991
- Author:
CopyrightCOPYRIGHT 1991 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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South Bay, Long Beach vacancies soar as aerospace flight continues
Aerospace companies have vacated millions of square feet in the South Bay and Long Beach, causing office vacancy rates in those communities to soar, according to commercial real estate brokers.
Meanwhile, residential brokers from Hermosa Beach to Cerritos report optimism that buyers are ready to make some serious offers now that the Persian Gulf War is over.
Vacancy rates "in parts of El Segundo and the 190th Street area is as high as 31 percent," said Bruce Schuman, vice president at Julien J. Studley, who specializes in South Bay commercial leasing. A major reason for the high ...