July 31, 2011 on 12:20 am | In Charts + Statistics, Economy, Fascinating Information, Investment Opportunities, Market Snapshot, Trends, Uncategorized | 2 Comments

By Jodi Summers

The statistics now confirm last month’s speculation, the SoCal industrial real estate market is heating up. Check it out -> the average asking rental rate per sq ft/year for Industrial properties in Los Angeles, CA as of Jun 11 was $9.30, according to $9.30 sq ft/year represents an increase of 0.5% compared to the prior 3 months, with an increase of +6.5% year-over-year. Hooray!

As you might expect, the L.A. metro area leads the region. County-wide, average rental rates in Los Angeles are -0.2% lower at $8.40 per sq ft/year on industrial properties currently for lease.

Lease rates around L.A. have grown faster than asking prices. Current Los Angeles market trends data indicates a decrease of -1.1% compared to the prior 3 months. The median asking price in June in metro L.A. was $142 per sq ft for industrial properties. More good news for buyers, prices on industrials are down -10% compared to last year. County-wide, asking prices for industrial properties are -0.3% lower at $136 per sq ft.

The UCLA Anderson Forecast remains consistent: slow growth through the end of the year. Slow growth is better than no growth.

We’re here to help you with your real estate property needs. Please contact Jodi Summers and the SoCal Investment Real Estate Group @ Sotheby’s International Realty – or 310.392.1211, and let us move forward together.



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  1. Construction spending in the U.S. rose in June for a third consecutive month, led by a gain in nonresidential building, including factories, communications plants and commercial structures.

    The 0.2 percent increase followed a revised 0.3 percent gain in May that was previously reported as a drop, Commerce Department figures showed today in Washington. The median estimate of economists in a Bloomberg News survey projected a 0.1 percent increase.

    Lower interest rates, easier lending rules and a drop in raw-material costs may keep stimulating a rebound in commercial projects that will help underpin business investment, one of the few areas of the economy that contributed to growth last quarter. At the same time, decreases in government spending and a stagnant housing market probably mean a broad-based rebound in the industry will fail to take hold.

    Comment by Bloomberg — August 2, 2011 #

  2. Shorenstein Properties of San Francisco and joint venture partner Worthe Real Estate Group of Santa Monica have acquired a 20-acre site at 13031 Jefferson Blvd. and plan to redevelop the site, which is entitled for up to 380,000 square feet of office space. Terms of the transaction were not disclosed, but the purchase was made through a lender-facilitated sale.

    The property includes two existing office/warehouse buildings totaling 380,000 square feet. One is a 330,000-square-foot building that was constructed in 1971, with a smaller single-story annex added in 1995. Both
    buildings are vacant but until 2005 were used as a distribution center by
    the US Postal Service.

    Comment by Globe Street — August 10, 2011 #

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