Mid-Cities industrial market firms slightly in 1992; sales activity nose-dives due to the lack of financing. (Los Angeles County, Orange County, California) (Special Report: Quarterly Real Estate) (Industry Overview)

Los Angeles Business Journal | January 25, 1993| | Copyright

Moves and expansions from within the Mid-Cities market at the end of 1992 caused that market's year-end industrial vacancy rate to decrease from its year-end 1991 level.

Commercial brokerage firm Grubb & Ellis Co. reported that the Mid-Cities' 77 million-square-foot industrial base was 13.5 percent empty at the end of 1992, a noticeable improvement from its 14.4 percent vacancy rate at the end of 1991. That improved vacancy rate occurred despite a dip in the total volume of industrial space sold and leased in the Mid-Cities during 1992. About 11.5 million square feet of ...

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