Since 2015, industrial rents have outpaced office rents in the Greater Los Angeles market. Similarly, urban starting rents in the industrial sector are outpacing suburban and spread continues to grow over time. Amazon's growth in the industrial sector stands out in both the greater LA market and nationally: rapidly expanding its industrial footprint since 2018.
Some of the trends include:
- Urban/Infill industrial is driving up the industrial market in the Greater LA area with rent growth exceeding suburban and rural markets
- Population proximity is a key proxy for expected rent growth
- Urban areas with the highest rents have the highest rent growth
- Consumer-facing industrial tenants, like Amazon, have driven the growth of industrial
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