Q1 2022 Industrial Market Outlook – Los Angeles
Los Angeles County’s industrial market continued feeling the demand for warehouse distribution space as the amount of completed construction (959,920 square feet) was basically matched by 998,418 square feet of positive net absorption, in the first quarter of 2022. Limited new development, due to land constraints, isn’t keeping pace with the economic growth and seemingly unending demand for more industrial space across the region from ecommerce. While developers are active in the market, the soaring demand for warehouse distribution space has caused builders to scour the market for obsolete buildings with sufficient land to produce large industrial development projects.
