|Good afternoon –
Industrial activity continues to outpace most asset classes. We are busy but also finding that the market is challenging due to such a rapid pace of lease and sale activity with a very muted industrial pipeline. The figures for positive absorption across the country tells the bigger story. See the chart below:
Such positive net absorption is one of the key variables in the year-over-year rent growth equation. In the charge below we see rent growth broken down by the market. Industrial brokers across the country would tell you that these numbers look low. I have seen and experienced 2X-3X these year-over-year rent increases!
- The Six Pack @ Rancho Cucamonga Distribution Center (Brochure)
- We just brought this fully leased 166,155 SF six-building portfolio to market for $35,000,000 which represents a 4.69% cap rate on existing rents and $210 PSF in the Inland Empire West. The market activity far surpassed expectations in the level of interest and competitive spirit. We’ll be able to report on this sale once it has been completed.
- 14570 Meyer Canyon Rd, Fontana (Brochure)
- This 45,795 SF freestanding building is in escrow along with the Six Pack project and will be available for lease in August.
- 15220 Canary Ave, La Mirada (Brochure)
- We leased this 90,320 SF industrial property on a 5-year lease to an international logistics company from the Inland Empire. They were expanding their reach and footprint and able to take advantage of our renovations and strategic location to the consumer and population centers of the greater LA basin.
- 3501 Segerstrom, Santa Ana (Brochure)
- We leased 20,000 SF and 41,000 SF here within this freestanding building in the Airport submarket of Orange County. Here we worked with a long-term client in order to be able to keep their leases marked to market lease rates.
- 23265 South Point Dr, Laguna Hills (Brochure)
- We sold this small office property to a non-profit whom we were able to help transition from leasing to owning after determining that the right property existed and could be adapted to his operation and funded by the SBA with attractive rates that included a tenant improvement build-out allowance.
- Audible / Audiobook Now Available!
- Amazon Review
- If you have enjoyed the book, I would be most grateful if you are able to leave a review on Amazon. You can find the link to do so here.
- Podcast – There is something for everyone in this last month.
We’d love to catch up with you and brainstorm how we can make your goals come to life. You can book time with me at your convenience: https://calendly.com/industrialsmith/. Thank you!
Justin Smith, SIOR Grant LaBounty Jeannette Plumeda
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