Raw land in the county lies vacant as value drops, tenants stay scarce. (Los Angeles County)(Quarterly Real Estate Report) (Industry Overview)

From: Los Angeles Business Journal | Date: December 2, 1991| Author: | Copyright information

Acres and acres of raw land in Los Angeles County are sitting unused because their value has plummeted and build-to-suit tenants are scarce.

Carson-based Watson Land Co. owns 600 acres of raw land in the South Bay, which is worth an average of $25 per square foot. "There is a very minimal market for land at that price" or at any price, for that matter, because the market is so soft, said Ray Brandt, vice president of sales and marketing for Watson Land.

"We're sitting on a lot of it," he added, noting there is no sense in developing the land unless the company finds ...

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