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2022 Q1 South Bay Industrial Research Report

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South Bay Rents Continue Exponential Growth Trend

The South Bay industrial market kicked off 2022 with 1.2M SF of positive net absorption. The overall vacancy rate slightly climbed from 0.4% to 0.7% quarter over quarter but is still 40 basis points below its mark from one year ago. With the region’s extremely low vacancy, asking rents have doubled in just four years, as competition for warehouse space is at an all-time high. The Ports of L.A. and Long Beach continue to work their way through the historic backlog of cargo ships that can be seen from much of the Southern California coastline. Container trade in 20-foot equivalent units (TEUs) is up 5.4% in Los Angeles and up 4.0% in Long Beach compared to this time last year.

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2022 Q1 South Bay Industrial Research Report

Download Report