The Greater Los Angeles Industrial market extended the substantial momentum propelled by accelerating e-commerce demand and continuing global supply chain distress in Q3 2021
Wholesalers, third-party logistics, retailers, and medicalsuppliers are driving additional demand for warehouse space. Net absorption of 4.1M sq. ft. in Q3 brought the year-to-date total to 12.4M sq. ft.
This year's robust leasing activity has driven the Greater Los Angeles warehouse vacancy rate down to 1.0%, matching the all-time low recorded in Q3 2016, which, in turn, has catalyzed an 18% jump in base-year rental rates, year-to-date.