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NEWPORT BEACH, CA—As the economic recovery became much broader based, demand from corporate and private business for light industrial increased, and light industrial is experiencing greater rental appreciation than big-box space, CBRE senior managing director Kurt Strasmann tells GlobeSt.com. According to a recent report from the firm, due to changes in consumer expectations and strong demographics, companies have had to adjust their supply chain accordingly.
The report also states that a huge benefit to the transition to an e-commerce augmented logistics model are the numerous prominent express-shipping hubs throughout the Greater Los Angeles/Orange County/Inland Empire region that move goods purchased on line to the consumers relatively easily. In addition, the impact of e-commerce and last-mile delivery on the region is evident: big-box industrial space, which has been the most in-demand space type during the current cycle, will slowly cede to light-industrial buildings as the need for last-mile facilities increases.
We spoke with Strasmann about the shift to light-industrial and other industrial shifts he foresees for the Orange County market as e-commerce continues to grow.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
