South Bay, The Tightest Market in the Country

Jodie Poirier is the managing director of CBRE’s South Bay office.

LOS ANGELES—The South Bay is poised for more growth this year in both the industrial and office markets. CBRE recently named Jodie Poirier as managing director of the South Bay office, and she is expecting rental rates to continue to climb in the industrial sector, which is the tightest in the country, and tech and media firms to drive occupancy in the office market.

“For Industrial, rates will continue to increase with a focus on high-quality buildings,” Poirier, managing director of CBRE’s South Bay office, tells GlobeSt.com. “The South Bay is the tightest industrial submarket in the country with a vacancy rate of one half of 1% percent. E-commerce continues to fuel demand and the world ports of LA and Long Beach posted record inbound container volumes during January 2017. Forty percent of all inbound freight coming into the U.S. comes through these two ports.  Development opportunities are scarce, and Class A product can’t keep up with demand.”