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The Industrial Vacancy Inches Down Even Further

It seems impossible, but in the second quarter, industrial vacancy in the Mid Counties market hit 0.6%, and Colliers expert Chris Sheehan says that while it will never be at zero, it could go even lower.

Los Angeles

The industrial vacancy rate in the Mid Counties market continues to inch down even further. According to the second quarter report from Colliers International, the Mid Counties industrial vacancy rang in at 0.6% for the quarter, closing out seven consecutive quarters of sub 1% vacancy in the L.A. submarket. While the vacancy rate didn’t change over the previous quarter, absorption was positive at nearly 30,000 square feet. As a result, rental rates continued to rise, increasing $0.02 per square foot to $0.68 per square foot triple net. To find out more about the market and how long this intense activity and near 0% vacancy rate could last, we sat down with Chris Sheehan, EVP at Colliers International, for an exclusive interview.

GlobeSt.com: How are tenants and landlords reacting to the dearth of supply?

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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