Industrial Market Recap 2nd Quarter

LA Northwest Market Update.

The Los Angeles county industrial market remains the tightest in the country – Xceligent Research. Despite seeing a continual feeding frenzy for industrial property, the market inventory has increased — by 0.1%. With the only new product coming online in Valencia and Simi Valley, San Fernando Valley industrial property values continues to grow by leaps and bounds.

The newest trend in the warehouse world is “Creative Rehab” which turns the dated heavy industrial brick construction into warehouse/office conversions. These properties are complete with polished concrete floors, modern lighting, full A/C, and a kitchen that would make your home jealous. It also comes with a hefty price tag of nearly $1.40 NNN per square foot for over 10,000 sq.ft. of space. In comparison the competitive market rate is between $1.15-$1.20 NNN per square foot.

Land within the Valley will continue to disappear as Overton Moore Properties’ newest project will remove land from Burbank Airport adjacent parking lots. Effectively displacing many entertainment studio vehicles and other related companies. Sending land hungry companies into Sun Valley, Sylmar, and San Fernando.

Bottom line – my opinion is lease rates will increase and sale price to follow suit.

To see Xceligent full report click HERE.

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The Point at Simi Valley Business Center

Newest west end industrial development.

Four new state of the art industrial buildings are rising from Simi Valley’s west end. Brought to market by Overton Moore Properties, and featuring 26′-28′ clear height with ESFR sprinklers – these will surely go fast. In fact one building is already in escrow.

  1. 161 W Cochran – 41,602 sq.ft.
  2. 163 W Cochran – 31,434 sq.ft.
  3. 165 W Cochran – 30,637 sq.ft. (in escrow)
  4. 167 W Cochran – 37,050 sq.ft.

ThePointatSimi1

ThePointatSimi2

See full marketing package here ->http://www.thepointatsimivalley.com/