If it seems impossible to find affordable housing in Los Angeles, consumers aren't the only ones feeling the squeeze. Companies are facing a similarly tight office and industrial market. Construction isn't keeping up with demand for new commercial space and land is tight. The hot new office markets? The Valley, Tri-Cities (Glendale, Burbank and Pasadena), West Los Angeles and Ventura County markets. Worst of all, when new industrial space is built, developers have the audacity of selling them as residential condos to faux loft-loving yuppies, instead of leasing them to businesses. WIth vacancy rates at an all time low in the commercial sector, and a hot housing market, what's a developer to do? Mixed use will be our only salvation.
Office, industrial space in county growing tighter [Dailynews.com]
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