Southern California’s Commercial Market is Booming

SOUTHERN REGION, Calif. - Southern California’s commercial real estate market is booming, according to new report from Coldwell Banker Commercial.

The company’s Blue Book market intelligence report for 2016 says the region is gaining traction in a variety of areas, ranging from business expansion and low office vacancy rates to an increase in land sales and strong activity at the ports of Los Angeles and Long Beach.

  • Northrop Grumman, which was awarded an $80 billion contract to develop a long-range strike bomber, will be expanding its 1.5 million-square-foot facility in Palmdale with another 340,000 square feet. That’s expected to bring about 6,500 jobs to the Antelope Valley when the planes are built at Plant 42 in Palmdale.
  • Lance Camper employs about 520 workers and produces about 15 recreational vehicles a week.
  • CarMax has completed construction of its first Antelope Valley dealership, bringing 60 new jobs to the region.

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