Los Angeles Area Warehouse Vacancies Hit Highest Level In A Decade [Yahoo! Finance]
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Source: Yahoo! Finance
The news is another troubling indicator that the commercial real estate sector is facing a stormy, uncertain future. The Colliers report revealed that both the short- and long-term trends for warehouse rentals are heading in the wrong direction. The average warehouse vacancy rate in Los Angeles for the first quarter of 2024 is 4.1%, — 1.5% higher than the first quarter of 2023. Many warehouse owners must offer rent discounts or are netting lower costs per square footage than in past years, which only complicates matters. Landlords are dealing with higher vacancies and getting less money on the leases they do sign. Don't Miss: Investing in real estate just got a whole lot simpler. This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100. Want To Grow Your Wealth Passively? Unlock Real Wealth with Cityfunds' Exclusive 8% Yield Fund That these troubles are hitting the Los Angeles market is cause for even greater concern from
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