Latest Warehouse Data Refresh Sees Big Price Changes

Posted on August 6, 2015 ยท Posted in News

Our agents recently updated asking rates for warehouse space in Los Angeles and there was quite a bit of fluctuation among submarkets with some areas seeing rates increase by 20 cents per square foot or more. On the flip side there a couple of markets, notably Pasadena and Alhambra where prices actually declined as a result of lower priced offerings entering the market. Long Beach, the bellwhether market for Los Angeles, saw rates remain unchanged in spite of all of the movement among other submarkets.

Markets that saw rates increase:
Baldwin Park +0.16
Beach Cities +0.21
Burbank +0.23
Carson +0.12
Commerce +0.04
Glendale +0.13
Inglewood +0.16
Irwindale +0.06
La Mirada +0.03
Norwalk +0.06
Paramount +0.01
San Gabriel +0.38
Santa Clarita +0.13
Santa Fe Springs +0.10
Whittier +0.10

Markets that saw rates decrease:
Alhambra -0.30
Antelope Valley -0.09
Azusa -0.02
Bellflower -0.11
Canoga Park -0.07
Chatsworth -0.11
City of Industry -0.08
Downey -0.01
El Monte -0.04
El Segundo -0.11
Gardena -0.01
Montebello -0.15
Pasadena -0.25
Pomona -0.13
Rancho Dominguez -0.05
Wilmington -0.06

Markets where asking rents were unchanged:
Cerritos
Compton
Hawthorne
Long Beach
North Hollywood
Oxnard
San Pedro
Torrance
Vernon

Overall rates tended to increase in areas where there isn’t as much available supply whereas rates in traditional warehouse areas like Industry or Long Beach remained unchanged or saw asking rents slightly drop.

For more information about warehouse space in any of these markets, contact Synergy Real Estate Group today at (323) 238-2929.

Photo credit: Direct Relief