Today, Los Angeles is known as one of the tightest and mostpopular industrial markets in the country. However, the market aswe know it today has largely emerged in the last decade, since2010. According to a new research snapshot fromJLL shows the differences in the market between2010 and 2019. In 2010, the Los Angeles industrial market had a 7%vacancy rate, compared to 2% today. Rents have increased 67%, whilesales prices have increased more than 200%.

"The tremendous growth of e-commerce has been a major driver ofindustrial markets everywhere this decade," PaulSablock, managing director at JLL, tells GlobeSt.com. "InSouthern California, you've got a population of over 21 millionpeople, second only to the New York tri state region. This is atremendous consumer base, and as buying preferences have continuedto shift further to the online realm, retailers have shifteddistribution strategies to meet demand. This means more reliance ondistribution space rather than brick and mortar retail space."