INDUSTRIAL STATS STRONG.Byline: Gregory J. Wilcox Staff Writer SHERMAN OAKS - The Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County industrial market was one of the nation's strongest in the year's first quarter with a vacancy rate of 3.3 percent, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report from a big brokerage company. The vacancy rate edged down 0.5 percentage point from the year-ago period under pressure from strong demand and tight supply, said the analysis from Grubb & Ellis Co. Nationally, the industrial vacancy rate was 9.2 percent, down from 10.6 percent in the first quarter of last year, the company said. Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the at the Los Angeles County Economic Development Corp., said that the county probably has one of the nation's lowest vacancy rates. ``It's been amazing. Throughout the economic cycle the industrial vacancy rate never went above 4.7 percent, and most people would consider a 10 percent vacancy rate to be a balanced market,'' he said. In the North Los Angeles market, which includes the San Fernando San Fernando, city, Argentina San Fernando (săn fərnăn`dō), city (1991 pop. 144,761), Buenos Aires prov., E Argentina. It is a district administrative center in the Greater Buenos Aires area. , Simi and Conejo valleys, the first-quarter vacancy rate was 4.7 percent, down a smidge Smidge Small amount of price, usually +/- 1/8 or 1/4. from the end of 2003 but unchanged from that year's first quarter. During the year's first three months, industrial leading activity increased by 2.8 million square feet from the last quarter of 2003. The vacancy rate edged up from 3.2 percent at the end of last year because 2.8 million square feet of product came in the market in the first part of this year. The quarter's largest transaction was St. George Warehouse Co. taking 259,500 square feet of space in the Harbor Gateway Center in Torrance, Grubb & Ellis said. Businesses are now paying up to $140 a square foot for smaller buildings and multiple buyers are bidding up Bidding up Moving the bid price higher. prices. Builders have been able to keep pace with demand for the last five years, said Jim Linn linn n. Scots 1. A waterfall. 2. A steep ravine. [Scottish Gaelic linne, pool, waterfall.] , senior vice president of Grubb & Ellis' North Los Angeles office in Sherman Oaks. ``Last year was the same, and this year we will have the same type of problem,'' he said. Gregory J. Wilcox, (818) 713-3743 greg.wilcox(at)dailynews.com |
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