Lease Activity Overshadows Sales

In the 2008 second quarter, 3.5 million square feet of building space was absorbed in the Central Los Angeles industrial market, similar to Q2 ’07.  Here is the interesting point:  space leased totaled 2,800,000 SF versus a paltry 751,000 SF sold – almost a 4:1 ratio.  The credit crunch and high sale prices have surely placed a damper on the sale market even though sale prices are relatively stable.

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