In the past few years the Southern California industrial market has been very tight in available cold storage warehouses and food production facilities. Here is a current list of buildings that have some of the following food improvements: freezer, cooler, floor drains, clarifier, refrigerated staging areas, and food grade production rooms. Locations include Los Angeles, Orange, and San Bernardino (Inland Empire) counties. Available for lease or sale / purchase by a variety of firms.
Average Asking Lease Rates have climbed dramatically in the last several years with the largest increases in 2021 and 2022. See below chart showing the steep rise for warehouse asking rental rates in Los Angeles, Orange, Ventura and the Inland Empire per AIRCRE MLS data. These are the major industrial property markets in Southern California. Individual markets and submarkets vary along with building class quality.
The Central Los Angeles industrial submarket had a very low vacancy rate of 1.4% in the first quarter of 2022. Warehouse buildings for sale or lease are hard to find for buyers and tenants as the number of listings is thin. Thus, rents and asking sale prices continue to rise. Year over year, rents rose 20% which is shocking.
