In Orange County’s industrial market, everything sells.
The strong demand for industrial product has pushed vacancy rates to historic lows (sound familiar?), and as a result, industrial investment opportunities are limited. When properties do come to market, investors strike. This was the case in the sale of two separate small box industrial facilities in Newport Beach. The two assets—both around 30,000 square feet—traded hands in off-market transactions to private investors looking for investment opportunities in the market.
The Lee & Associates brokers who worked on both deals say that this is part of the new normal of robust industrial demand.
Continue reading “Small-Box Industrial Sales Demonstrate Solid Demand”
Industrial developers in Southern California have focused largely on big-box industrial builds, especially in the Inland Empire.
While users of warehouse and distribution center facilities have fueled the industrial activity, demand for last-mile distribution centers has grown, but it has largely been overlooked by developers. Thanks to major growth in the Inland Empire West MSA—which is among the fastest growing metros in the country—there is an even greater demand for small-box industrial that can service the local community.
Continue reading “Why Industrial Developers Are Going Small”