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Image Attribution: www.dreamstime.com |
I’ve written ad nauseam about the imbalance existing between demand and supply of available industrial buildings in Southern California. Since the economy was awakened - akin to Rip Van Winkle - in 2011 and after the mortgage meltdown, we’ve been on an upward trajectory. Recently - in the last six months of 2020 and the first four months of 2021 - we’ve been on turbocharge! If your desire is to lease or buy a 100,000 + square foot class A building in Orange County - you have exactly one choice! That’s it. And, by the way, the building isn’t complete and won’t be until October. What about older stock? Unfortunately, the inventory isn’t more plentiful. Therefore lease rates and sales prices have eclipsed sanity.
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