It was another banner quarter for Los Angeles’ industrial market.
With high demand and little space available, asking lease rates climbed to another new all-time high, finishing the quarter at $1.14 per square foot, up 8.6 percent from the same period a year prior. All three quarters so far in 2021 have shown positive net absorption, and brokerage Kidder Mathews reported that a net 3.3 million square feet was leased between July 1 and Sept. 30, tightening the market to 1.4 percent vacancy in the third quarter.
For the full story, go to the Commercial Observer.
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