by Jodi Summers

Compare non-residential commercial property investments in the Los Angeles area…survey says, sentiment is in favor of industrial development across the state.

“Industrial space looks to be the leader,” offered Jerry Nickelsburg, a senior economist at the UCLA Anderson School of Management, contend. “We’re seeing warehouses that were leased, but not fully utilized now fully utilized.”

There’s a flurry of activity in the marketplace around Los Angeles ….it’s palpable. Asking rates for industrial properties have gone up since the last quarter, rising 0.5% to $8.74 per square foot. Loopnet notes that asking lease rates for industrial properties reached a three-year high in January 2008 at $10.85 per square foot. In comparison, the median asking price is now 4.7% lower.

Higher rents, lower purchase price < sexy opportunity.

In the metro Los Angeles area, industrial sale prices are up by 2.3%. The highest median sale price during the past three years was $144.72, set in April 2009. In comparison, the current median sale price is down by 25.7%. However, the current price is 3.3% higher than the three-year-low of $104.06, which was set in January 2011.

With our population, ports, strengthening infrastructure and logistics expertise, industrial demand will stay strong in California for years to come. As you know, that’s already happening. In recent months, the Inland Empire has captured nearly 40% of all U.S. industrial absorption.  Strong demand has pushed vacancy rates into the 7% range in San Bernardino and Riverside counties. And the area is seeing signs of rental growth and speculative development.

As you know, the Inland Empire was whonked upside its economy in the recession. If the Inland Empire can strike back, there’s hope for cities around the country. Los Angeles is one of the best business cities with the most to offer, just watch us come back from the precipice and thrive as one of the most significant industrial economies in the country.

We’re here to help you with your commercial and investment 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.



Join the conversation! 2 Comments

  1. The City of Redondo Beach has launched a request for qualifications for a waterfront development opportunity covering more than 15 acres of oceanfront land. The RFQ is a major milestone in the City’s comprehensive Waterfront Revitalization Project, which includes targeted upgrades of public and private spaces across the waterfront, stretching from Redondo’s pier to King Harbor.

    The redevelopment will include 150,000 square feet of existing building area, with up to 400,000 square feet of net new development led by those chosen from the RFQ responses. The land is fully entitled through the coastal commission.

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About Jodi Summers

Jodi Summers
Sotheby’s International Realty

Jodi Summers Bio

With $100,000,000 in listed inventory, Jodi Summers understands the coastal commercial real estate market. A top producer with Sotheby’s International Realty, Jodi knows finance, rules, regulations, procedures and methods. She is accurate, knowledgeable, timely and aware of how government shapes the cities of Southern California.

Jodi is born in Brooklyn, raised in and around Manhattan – the family business was marketing, Madison Avenue style. Childhood math quiz questions calculated demographic and psychographic percentages or analyzed the allocation of adverting dollars. Word games were for devising slogans.

An honors graduate from the Walter Cronkite School of Journalism at Arizona State University, Jodi moved to California to achieve her goal of living by the beach with a palm tree and a hibiscus bush in her yard.
She thrived as an entrepreneur in the entertainment, media and marketing industries. One of her books, “Marking and Marketing Music,” is in second edition.

“My marketing and communication skills have proven to be a true gift when it comes to promoting real estate,” observes Jodi. “And I am consistently able to get an exceptionally high price per square foot for my sellers.”

Discipline (Jodi holds a Black Belt in Tae Kwon Do), organization, motivation, excellent communication skills and knowing & satisfying the needs of her clients have been her essentials for running a successful business. A passion for investment real estate explains her emphasis in asset-yielding properties.

Her team joined Sotheby’s International Realty for the company’s powerful brand and stellar reputation.
“We offer the broad market knowledge needed to assist clients in formulating a sound acquisition strategy,” Jodi amplifies. “Together, we evaluate various markets, property types and neighborhoods to devise a customized approach that meets each client’s specific objectives.”

Jodi is a member of the Action Apartment Association of Westside income property owners, the Santa Monica Conservancy historic preservation society, the Ocean Park Association, the Friends of Sunset Park community group, the Real Estate Investors Club of L.A., and the Culver City Rock & Mineral Club. Members of her team are fluent in Spanish and Italian.

“Our reputation assures your satisfaction.”


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