Q3 2009 LoopLocal Insight Reports were recently released for 39 markets nationwide, showing sales trends for each of the five major property types. Today we checked out asking prices for industrial listings in Los Angeles County on LoopNet and noticed a decline of 12.4% since Q3 2008 and 3.6% since Q2 2009.
According to the Institute for Supply Management’s most recent national Report on Business “Economic activity in the manufacturing sector expanded in September for the second consecutive month, and the overall economy grew for the fifth consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business®.”
When will these early indicators start to impact industrial property values, rents and deal volume in LA? What about other markets? Is the industrial property market different from 6 months ago? If so, how?