65M SF of Industrial Leases Will Roll in Next 3 Years

Barry Hill

A substantial number of industrial leases are scheduled to expire in the next three years in the Los Angeles. According to new research from JLL, more than 65 million square feet of industrial leases will expire, giving some relief to the very tight industrial market. The South Bay market will see the most substantial number of expiring leases, and class-A and class-B space makes up the majority of the assets with leases expiring.

“This is the random nature of the business,” Barry Hill, EVP at JLL, tells GlobeSt.com. “There is no real science to it. I don’t think it is tied at all to economic cycles because lease terms can be three years, five years, 10 years, and all of those deals are rolling during this window. Those leases all started at different times but they are expiring at the same time. More importantly than why it is happening is to notice that it is happening and find ways to leverage it.”