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2021 Q2 South Bay Industrial Research Report

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INDheroSB_Q221

South Bay Continues Historic Run

The South Bay industrial market closed out the first quarter with 740,390 SF of positive net absorption. The overall vacancy rate decreased to 1.0% from 1.1% quarter over quarter and 130 basis points below its mark from one year ago. The Ports of L.A. and Long Beach continue to work their way through the congestion of cargo ships that can be seen from much of the Southern California coastline. Container trade in 20-foot equivalent units (TEUs) is up 48% in Los Angeles and up 42% in Long Beach compared to the first five months of 2020. In May 2021, the Port of Los Angels surpassed 1 million TEUs in a single month, which set a new all-time record for a Western Hemisphere port.

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2021 Q2 South Bay Industrial Research Report

Download Report