CBRE: San Pedro Bay Port Complex: The Driver of the SoCal Industrial Market

Written By Lauren Fulton

In the first quarter of 2024, the Ports of Los Angeles and Long Beach, known as the San Pedro Bay port complex, accounted for over 30% of the Twenty-foot Equivalent Units (TEUs) in the United States. From 2007 to 2024, total TEU activity historically correlated to 15-28% of total leased square footage annually in the Greater Los Angeles, Orange County, and Inland Empire (GLA-OC-IE) region. These imports and exports are anticipated to continue influencing the region’s industrial leasing market.

The influx of imported goods in Southern California necessitates nearby storage space for retail, distribution, and logistics companies. However, third-party logistics (3PLs) throughout GLA and IE have excess capacity in existing warehouses, left over from the pandemic surge. While that space will need to be absorbed before witnessing tighter vacancy rates and rising rents, the long-term fundamentals remain sound and optimistic.

Lauren Fulton

I am a Creative Director and Designer with 10 years of experience. My true passion lies in helping small to medium size brands discover who they are, and how they can make an impact through design.

I work across a spectrum of mediums including UX design, web design, branding, packaging, and photography/illustration art direction. I work with start-ups and medium-sized brands from fashion to blockchain and beyond.


https://www.laurenfultondesign.com/
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