Almost 170 Class B industrial leases were signed in the second quarter of this year in the Los Angeles-Orange County-Inland Empire area. That was significantly more than the 72 Class A transactions and the 106 Class B leases that had been inked during the same period last year, according to CBRE, indicating a shift to more budget-conscious options for industrial tenants in this region.
Class B transactions also accounted for a large share or 37.8% of total leasing by square feet in the same second quarter, up from 25.8% in last year's same period. The share of total leasing activity from Class A transactions in the same period decreased to 49.7% from 61.7%.
But variations in deals reflected differences in renewals, size and specific segments of the industry, making a deeper dive worthwhile.
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