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Article: Mid-Cities industrial market firms slightly in 1992; sales activity nose-dives due to the lack of financing. (Los Angeles County, Orange County, California) (Special Report: Quarterly Real Estate) (Industry Overview)
- Article from:
- Los Angeles Business Journal
- Article date:
- January 25, 1993
- Author:
CopyrightCOPYRIGHT 1993 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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Moves and expansions from within the Mid-Cities market at the end of 1992 caused that market's year-end industrial vacancy rate to decrease from its year-end 1991 level.
Commercial brokerage firm Grubb & Ellis Co. reported that the Mid-Cities' 77 million-square-foot industrial base was 13.5 percent empty at the end of 1992, a noticeable improvement from its 14.4 percent vacancy rate at the end of 1991. That improved vacancy rate occurred despite a dip in the total volume of industrial space sold and leased in the Mid-Cities during 1992. About 11.5 million square feet of Mid-Cities industrial space was leased and sold in 1992, compared with 12.2 million in 1991. Grubb ...