DTZ: Vacancy down and rentals up in Los Angeles industrial market
DTZ’s Industrial Market Snapshot found that the overall vacancy rate for the Los Angeles industrial market slipped from 5.3% in 1Q14 to 3.8% in 1Q15. The long term average is 6.0%. Net absorption was 2.4mn square feet in 1Q15, up from 1.4mn in the p.c.p. Average asking rents have risen from USD0.58 per square foot to USD0.65. DTZ describes industrial demand as being ‘white hot’.
Source : 31 March 2015/DTZ/Los Angeles/IND