E-commerce Continues to Drive Demand
- The City of Oxnard announced that Seefried Industrial will build a 2.3-million-square-foot fulfillment center for Amazon.
- Net absorption closed out the quarter with positive 1,254,422 square feet of demand, bringing the year-to-date total to 897,022 square feet.
- The building boom continues, as 280,228 square feet was delivered to the market this quarter, while 1,555,600 of square feet are underway.
San Fernando Valley and Ventura County Industrial Market
The San Fernando Valley is the most populous region of Los Angeles and home to major motion picture, music recording and television production companies. Much of the industrial infrastructure is devoted to ancillary services for the entertainment industry and to serving the local population.
The San Fernando Valley has recently seen an influx of value-add investors continuing to purchase properties in the region.