The Los Angeles and Orange County industrial markets both have registered negative net absorption in the third quarter of this year, something that has been virtually unheard of lately in Southern California, where the growth of the logistics industry and other factors in recent years have generated a seemingly endless demand for industrial buildings.
After nearly a dozen years of continuous growth, container volume at the ports of Los Angeles and Long Beach continues to drop as of late.
"The entire West Coast lost business," keynote speaker Jon DeCesare, CEO of WCL Constulting, told an audience of several hundred industry professionals at the fourth annual RealShare Industrial West conference and networking event on Wednesday at the Hyatt Regency Long Beach. Some 200 registrants attended this year's conference.
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