So Cal By The Numbers Newsletter

Top 7 Industrial Market Insights

Irvine Spectrum

The Spectrum encompasses 21 million square feet of industrial property, with 51% designated as flex space for labs and technology users. Vacancy sits at 5.7%, with distribution space averaging "$1.21 Gross" and flex space at "$1.59 Gross." Premium properties command "$1.50 NNN," potentially reaching "$2.00 PSF" all-inclusive.

Irvine

The Airport/IBC area contains 18 million square feet split equally among logistics, manufacturing, and flex spaces. Large warehouses have been converted to residential developments. Rental rates typically run 3-5% below Spectrum prices, with location decisions often driven by employee and customer commute times.

Anaheim/Fullerton

These markets offer 50 million and 21 million square feet respectively. Class A logistics buildings average "$1.03 GRS," while Class B space reaches "$0.85 GRS." Vacancy rates stand at 2.0% and 5.5%. The central location between ports and inland markets maintains market tightness despite new developments.

Costa Mesa/Santa Ana

Costa Mesa provides 12 million square feet; Santa Ana offers 35 million. Markets feature primarily Class B buildings with 20'-24' clearance. Cannabis-approved properties command 2-3 times traditional rates. Conventional space ranges from "$1.08-$1.29 PSF." Shea Business Center offers units from 27,000-166,000 square feet.

Santa Fe Springs/La Mirada

Combined inventory totals 61 and 17 million square feet respectively. Vacancy remains tight at 2.3%, driven by South Bay displacement. Rents average "$1.01-$1.03 GRS" with multiple Class A developments planned.

Carson/Compton

These South Bay markets contain 24 and 32 million square feet with 2.1% vacancy and "$1.03-$1.07" asking rates. Limited large space availability creates intense competition for the region's premier distribution users.

Vernon/Commerce

Combined 91 million square feet of inventory serves food production and cold storage sectors. Rents range from "$0.91-$1.01 PSF," benefiting from proximity to utilities, DTLA, ports, and inland distribution networks.

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Top 5 Office Market Insights

Irvine Spectrum

The Spectrum offers 15 million square feet split between high-rise and mid/low-rise Class A properties. High-rise rents reach "$3.44 PSF" with 20% vacancy; mid-rise averages "$2.56 PSF" with 15% vacancy. Irvine Company dominates development and ownership, including Spectrum Terrace and Discovery Park projects.

Irvine/Tustin Legacy

This 28 million-square-foot market shows Class A rents near "$3.00 PSF" and Class B at "$2.67 PSF." Vacancy rates stand at 18.1% and 9.6% respectively. Recent completions include The Boardwalk and The Flight, attracting major tenants.

Newport Beach

At 14 million square feet, this market commands premium Class A rates averaging "$3.71 PSF" with Fashion Island properties reaching "$5.80 and beyond." Class B space averages "$3.30 PSF." Vacancy remains low at 10.2% and 6.1%.

Costa Mesa/Santa Ana

Costa Mesa's 9 million square feet features The Press creative campus with Class A rents at "$3.06 PSF." Santa Ana's 25 million square feet divides across multiple distinct submarkets, each with unique dynamics.

Anaheim/Anaheim Hills

This 12 million-square-foot market shows Class A rents averaging "$2.70 PSF" and Class B at "$2.20 PSF." Vacancy rates vary by submarket (7%-16%), supporting diverse tenants from headquarters to medical practices.

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Outside of Southern California

The author indicates that 25% of practice involves out-of-state work, including corporate footprints and individual investment properties. Services extend to market evaluation and property identification nationwide through company resources and industry networks.