Vacancy remains low as newly delivered buildings at an all-time high

Strong demand for industrial space across the Los Angeles market continues as vacancy remains at an all-time low. In the second quarter, new construction deliveries struck an all-time high of 3.6 million square feet (msf) resulting in the vacancy rate recording a slight increase. The largest delivery in the second quarter was an Amazon Fulfillment Center at 3100 Sakioka Drive in Oxnard totaling 1.5 msf. The overall vacancy rate, already one of the lowest in the U.S., ticked up 10 basis points (bps) over last quarter to just 1.6% regionwide. However, this is still down 130 bps from a total vacancy rate of 3.5% reported a year ago.

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