Industrial rents in the San Gabriel Valley have hit a new record. According to research from NAI Capital, industrial rents in the popular L.A. submarket are up 16.4% year-over-year to $0.84 per square foot.
Rents are increasing rapidly. Quarter-over-quarter, rents have increased 7.7% quarter-over-quarter.
The rapid increase in rents have fueled development activity. The new construction pipeline is 1.5 million square feet, an increase of 43.9% over last year.
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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.
