If you want to get a quick feel for the strength of the Central Los Angeles Industrial submarket, then glance at the below chart. It shows the 3 key metrics over the past decade.
The vital property statistic that I focus on the most is our low vacancy rate at just under 4%. The Southern California industrial real estate market has generally had the lowest vacancy rate in the United States over the past decade. Why? Because demand from tenants and buyers is very strong and we are an infill market given we have run out of vacant land to construct new buildings.
Here are the definitions of the other two metrics in the chart. For a complete list of commercial real estate terms defined please see our Glossary.
Net Absorption: The square feet leased in a specific geographic area over a fixed period-of-time after deducting space vacated in the same area during the same period.
Net Deliveries: The square feet of new construction delivered to the market minus any buildings that were demolished.
■ Great Creative Studio/Warehouse Space ■ Classic Brick Building, Constructed 1968 ■ Fenced Parking ■ 1st Floor: Previously an Art Gallery, Air Conditioned ■ 2nd Floor: Beautiful Wood Floors & Bow-Truss Roof ■ Only one block from 10 Freeway Onramp ■ Fashion District Near South Park, Historic Core, & Arts District
3-5 year lease term. $1.50/SF/mo. Marketing brochure package. The larger property can be made for sale for a buyer.
This is preliminary notice that a 18,300 square foot food production facility will be coming available in Downtown Los Angeles, DTLA as a new listing for lease. Near City of Vernon. Currently a commercial kitchen and commissary for meal kit prep. Refrigerated rooms include a cooler and freezer, grease trap / clarifier, hoods, floor drains, ground level loading doors, and 2 fenced parking lots.
County Health Dept permitted for food processing. A tenant could upgrade to USDA, BRC, or SQF food safety standards.
Versatile building for general food production such as meals, bakery, desserts, pasta, produce, vegan or vegetarian or plant-based, sandwiches, mexican foods, seafood, sushi, tamales, burritos, sauces, beverages. Or convert into ghost kitchens.
Feel free to register preliminary interest by using the contact page.
Don’t be fooled by the proponents of California’s Proposition 15, known as the split-roll property tax increase. If this measure passes it will devastate commercial property owners and the tenants.
How? Because hundreds of thousands of properties will be re-assessed at current market value and the annual tax bills on these will increase from $10-30k to $100-300k. Who will pay this? Well landlords with market rent may end up selling because their income may turn from positive to negative, as in a net loss.
Many landlords will try to pass off the increases to tenants since most commercial leases allow tax increases to be passed through to tenants. The tenants of course won’t be able to pay the increases and will likely default on their leases and may go bankrupt.
The CA legislature could have eliminated Prop 13 loopholes but they rejected that bill because they want to go for the big dollars in Prop 15, which will devastate the already pandemic devastated California economy. Vote NO.
A 51,000 square foot building with extensive food production improvements is available for lease at $1.45 per square foot triple net in the the southern section of the City of Los Angeles near the 405 and 110 freeways.
The building shell is modern concrete tilt up and the food processing improvements were installed in recent years and include: refrigerated production meal prep room, cooler, floor drains, and freezer. The space was used for airline meal preparation. There are 80 parking spaces and 1,600 AMPS of power.