The AIR CRE is the premier multiple listing service for industrial real estate such as warehouses and manufacturing buildings in Southern California. Whether you are a buyer or tenant or landlord or seller, this MLS is the service that all the top-tier brokers primarily use. It services industrial, office, retail, and other commercial real estate listings.
There are over 33,000 listings in the system for SoCal. And there are over 1,600 members in SoCal. So if you seek to search or list for sale or lease a warehouse or other commercial property in Los Angeles, Orange, San Bernardino, Riverside or Ventura counties, contact us as we are members of this MLS.
LoopNet, which is owned by Costar, is a second-tier MLS that we also use but it’s data pales in comparison to the AIR CRE and top firms mainly use it as a secondary marketing tool but don’t always put their listings there. The most active and major Los Angeles commercial real estate brokers use the AIR CRE, which is member owned and created in 1960.
An approximately 20,000 square foot concrete warehouse with 5,200 square feet of freezer /cooer boxes is expected to come available as a listing for lease in several months. It is an industrial warehouse with cold storage and dry storage that can accommodate 10 dock high refrigerated truck trailers – this is an unusually high number of loading positions for a building of this size. Some freezer could possibly be converted to coolers.
There is plenty of yard and parking space given the large 43,000 square foot land parcel. Offices with restrooms included. Located the City of Commerce near the 5 Freeway about 10 minutes from Downtown Los Angeles (DTLA) and the City of Vernon.
Ideal for refrigerated food storage and distribution. Perishable foods such as prepared meals, poultry, seafood, beef, frozen foods, produce (fruit and vegetables).
Supported by the phenomenal growth of e-commerce, leasing activity was strong in the first quarter after the steep declines experienced earlier in early 2020. In Q1, across the Central Market, 139 leases were signed for a total of 2,836,295 SF; the average asking rate was $0.96 PSF. Q1 leasing volume for Central LA was 25% higher than Q1 2020 levels. Another 133 warehouse properties, totaling 2,000,000 SF, were sold in the period with an average price of $291.43 PSF. The average rate will move up or down slightly quarter-to-quarter depending on how many older, functionally obsolete warehouse and manufacturing buildings are in the pool of available inventory. The limited amount of available first-generation, Class A space leases at a premium to the average rate.
Below is a list of industrial real estate listings that were sold in the 4th Quarter of 2020 over 10,000 square feet in size in the Central Los Angeles industrial submarket. Information includes: buyer, seller, sale price, square footages, and property features for warehouses and manufacturing buildings.
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.