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John McMillanThere is a severe dearth of industrial supply in Los Angeles, but there are ways of getting more supply to the market. Constructing multi-story industrial facilities are one way to bring more supply to the market. These projects are already going up in other dense markets as well as overseas, and could be a perfect solution to Los Angeles’ need for more industrial product. However, the solution is bigger than simply building more space.

“Multi-story warehouses are coming,” John McMillan, vice chairman at Newmark Knight Frank, tells GlobeSt.com. They must, because we don’t have any dirt available and large redevelopment sites are extremely rare.  Multistory industrial properties are common in Asia due to a lack of land.

While multi-story industrial is a solution to the tight supply—driven by limited developable land and high construction costs—McMillan says that local governments should also support the growth of the industrial market in the city. “Not everyone can operate from the Inland Empire,” he says. “We need to work on convincing the local municipalities throughout Los Angeles County that we all benefit from industrial jobs. They should promote and welcome industrial development. Some cities do, but many don’t.”

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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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