August Deals Booked | 2017
Download our top Deals Booked for the month of August! For more information on each particular deal – Please call 949-727-1200 & ask for the listing broker.
Our 2nd Quarter Industrial Market Report: Short Supply Sends Lease Rates, Prices Soaring
Strong demand and the record-low supply of available industrial space are combining to drive up lease rates at a torrid pace with second-quarter average asking rents jumping 4.5 percent over Q1. Virtually every building for lease or sale is drawing multiple offers, regardless of size.
Through the second quarter, average countywide lease rates climbed 9.5 percent year over year and are up 21 percent over the last eight quarters, according to data collected by Lee & Associates on 8,312 buildings totaling 277.8 million sq. ft.
The overall vacancy rate settled at 2.7 percent at the end of Q2, but the total of vacant space that is being actively marketed for lease was 2.1 percent or 5.6 million sq. ft.
The county’s base of buildings is in decline. In the last eight years, the industrial inventory has been reduced by 93 buildings totaling 4.8 million sq. ft. to make way for new multifamily or retail development. There was an 181,069-sq.-ft. building completed in Fullerton in Q2 but the countywide inventory nevertheless fell by 395,788 sq. ft. from the first quarter.