Home to over 10 million people Los Angeles County is the most populated county in the United States. Known as the entertainment capital of the world, the county is also home to 11 Fortune 500 companies not in the entertainment industry. Year to date, 62,000 jobs have been added. With top Universities like UCLA and USC situated in Los Angeles, the future labor pipeline remains strong. Despite concerns over trade tariffs affecting Los Angeles County’s economy, total GDP has surpassed $700 billion making the 3rd largest metropolitan economy in the world. Continued growth in the economy, has caused vacancy rate to drop to 1.4% - the lowest vacancy rate among the major industrial markets. The combination of a limited development pipeline and strong demand for industrial product is generating unprecedented growth in asking rates across industrial product.
Irwindale is strategically located less than a 30-mile commute along the I-710 corridor to Port of Los Angeles & Port of Long Beach. With a combined TEU over 14 million, these ports are the largest ones in the United States. Its central location at the intersection of the I-10 and I-605, major transportation corridors, that connect to Santa Monica and Downtown Los Angeles, make Irwindale a unique last mile location accommodating goods that can be stored for same day delivery across metro-Los Angeles. As of Q3 2018, the San Gabriel Valley industrial market is posting the highest occupancy gains in Los Angeles County coupled with asking rates growing by 12.9%. As e-commerce has continued to grow the demand for last mile industrial spaces has compounded.