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Article: San Gabriel Valley industrial sector tightens further.(Special Report: Real Estate)
- Article from:
- Los Angeles Business Journal
- Article date:
- April 24, 1995
- Author:
CopyrightCOPYRIGHT 1995 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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Vacancy rate declines to 7 percent in 1st quarter
The already tight San Gabriel Valley industrial market continued to firm in the first quarter, as demand remained strong for all sizes of spaces, making the market one of the strongest for industrial space in the Los Angeles Basin.
According to Grubb & Ellis Co., the valley's industrial vacancy rate had decreased to 7 percent by the end of the first quarter, down from 7.9 percent at the end of last year and 9.9 percent a year ago.
"We have product demand continuing to accelerate, but we're running out of product in just about all size ranges," said Jim Center, a senior vice president with Grubb & Ellis. ...