LA Is Nation's Top Industrial RE Market
Just seconds after this was taken,the 200-plus attendees at AIR's 20th annual forecast in Downtown LA broke into song. They had just heard that Greater LA is the nation's strongest-performing industrial market, and that industrial RE is the strongest category in the four-county region. Greer Advisors' Everett Allen Greer noted that LA posted the lowest vacancy (5%)out of 55 markets nationally. Also upbeat was the panel, including Prologis' Rob Antrobius, who said that even Class-B buildings have bounced back. Cushman & Wakefield's John McMillan and Lee & Associates-LA North's Brett Warner both foresee rising rates in LA County and the SF Valley. Demand in Orange County is strong enough to justify spec construction, according to JLL's Louis Tomaselli, while JLL's Peter McWilliams said developers in the Inland Empire are concerned about dwindling land.
Our No. 2 concern is meteors hitting us on the head. No1 is not getting yourRE news.Julie@bisnow.com.
