The Industrial Real Estate Market in the San Gabriel Valley experienced continued low vacancy, but some rate reductions and landlord concessions are starting to occur.
Demand persisted in the San Gabriel Valley Industrial Real Estate Market in the 1st Quarter of 2023. Despite new construction coming on-line and slightly higher vacancy rates, functional space remains in short supply. Direction on the other hand does feel like its shifting somewhat with a few rate reductions and concessions being made by landlords.
The San Gabriel Valley Market benefits from the region's proximity to major ports, transportation infrastructure and a large population center. E-commerce and logistics companies are driving much of the demand for industrial real estate, as they seek larger and more functional warehouses and distribution centers to support their operations.
Overall, the San Gabriel Valley industrial real estate market is expected to remain strong in the near term, with continued demand, although rising interest rates do seem to be having a slowing effect on the market.
