There is a growing presence of online-based retailers and logistics companies providing same-day or next-day delivery service to consumers which is affecting the Los Angeles industrial market.
The logistics and distribution sector accounted for 39.4 percent of the top 25 leases during the first half of the year. A few of the large transactions include 4PX Worldwide Express signing a 361,435 square-foot lease in Commerce and IDC Logistics taking 323,374 square feet in Lynwood.
First out of the nine logistics and distribution deals occurred in the port-centric South Bay market followed by two in the Central LA market where some large industrial space is still available. The other two transactions occurred in the Mid-Counties and San Gabriel Valley markets.
For more information contact Teresa Petrosyan.
Visit the JLL Los Angeles Research webpage for additional market insight.