Southern California industrial market vacancy ends 2021 at the lowest level ever recorded
At year-end 2021, the Southern California industrial market continued to report unprecedented warehouse demand as the U.S. economy has seen robust consumer spending amid widespread supply chain disruptions. The overall vacancy rate, already one of the lowest in the U.S., decreased even further to just 1.5% regionwide, the lowest ever recorded. Due to Southern California becoming increasingly built-out, market conditions continue to be highly landlord-favorable and as a result, expect supply-constrained fundamentals to continue into 2022.