Alhambra, CA Economic Overview
Alhambra is part of the Los Angeles County area and is just eight miles from Downtown Los Angeles. Home to over 80,000 residents, this 7.6 square mile San Gabriel Valley city is bordered by South Pasadena, San Marino, San Gabriel, Monterey Park, Monterey Hills, and El Sereno. The commercial real estate market in Alhambra is driven by the city's proximity to Los Angeles, its easy freeway access, and the comprehensive pro-business agenda.
The economy in Alhambra is driven in large part by its centralized location in Los Angeles County. The area is a huge consumer market with 10 million people, the County conducts more than $400 billion in annual two-way trade, and Alhambra has easy access to the Ports of Long Beach and Los Angeles, the Alameda Corridor rail system, and Los Angeles International Airport, the country's third most active international cargo airport.
With a median household income of over $52,500/year and a growing job base of over 42,000 employees, the economy in Alhambra remains strong. Income growth in Alhambra is consistent, as industry is attracted by the city's comprehensive business planning and its strategic development of five distinct business corridors.
Alhambra, CA Commercial Real Estate Market
The success of the Alhambra commercial real estate market is due in no small part to the city's five business corridors: Fremont Corridor, Garfield Avenue Corridor, Main Street Corridor, Mission Palm Corridor, and Valley Boulevard Corridor.
Each of the business districts in Alhambra serve specific industry sectors, creating vibrant commercial growth and development throughout the city.
The Fremont Corridor in Alhambra is an expanding business district, home to many of the city's top employers, including the 45 acre Alhambra Complex, The Fremont Plaza, the 17,755 square foot Shops at the Alhambra, and the L.A. County Department of Public Works.
The Garfield Avenue Corridor exemplifies the growing number of medical facilities, and is home to one of the most highly visible medical office buildings along the Garfield Avenue Corridor, namely the Pacific Orthopedic & Medical Center, a major focus point in the Alhambra office market.
Main Street Corridor in Alhambra has recently gone through an intensive revitalization program and is home to a wide variety of dining, retail, entertainment, mixed-use projects, along with the many auto dealerships that the city is well known for.
The Mission Palm Industrial Corridor in Alhambra includes a variety of small- to medium-size companies involved in light manufacturing, distribution, and industrial service work, while the Valley Boulevard Corridor in Alhambra is a dynamic, emerging business district that caters to the city's large and growing Asian population.
Alhambra, CA Commercial Inventory Breakdown
Office Spaces
Total: 1,662,137 SF
By square footage range:
- 50k to 100k SF: 262,581 SF / 15.8% of total office
- 100k to 500k SF: 467,665 SF / 28.14% of total office
- 500k to 1M SF: 931,891 SF / 56.07% of total office
By class:
- Class A: 118,265 SF / 7.12% of total office
- Class B: 1,298,472 SF / 78.12% of total office
Industrial
Total: 665,733 SF
By square footage range:
- 50k to 100k SF: 321,969 SF / 48.36% of total industrial
- 100k to 500k SF: 343,764 SF / 51.64% of total industrial
By class:
- Class A: 122,729 SF / 18.44% of total industrial
- Class B: 431,250 SF / 64.78% of total industrial
- Class C: 57,754 SF / 8.68% of total industrial
Office Spaces with Retail
Total: 1,429,274 SF
By square footage range:
- 50k to 100k SF: 317,314 SF / 22.2% of total office with retail
- 100k to 500k SF: 1,111,960 SF / 77.8% of total office with retail
Employment in Alhambra, CA
Job growth in Alhambra has increased nearly 1%, with an unemployment rate of just 3.3%, 200 basis points less than the national average. Nearly 55% of the labor force works in management, administration, sales, production, food & service, and personal care. Major employers in Alhambra include:
- the Los Angeles County Department of Public Works with 3,600 employees;
- Alhambra Unified School District with over 2,100;
- County of Los Angeles with 1,500 workers;
- Southern California Edison with 800;
- the City of Alhambra with 650 employees;
- Alhambra Hospital with 600;
- Empire Building Maintenance with over 400 workers.
The auto dealerships located along the Main Street Business Corridor are one of the largest contributors to the local economy, with all of the major auto manufacturers represented including Acura, BMW, Nissan, Ford, Volkswagen, Dodge, Jeep, and Chrysler.
Education in Alhambra, CA
The Alhambra Unified School District operates the public primary, middle, and secondary schools in Alhambra. Private schools in the city include Ramona Convent Secondary School, St. Theresa, St. Thomas More, and Emmaus Lutheran. Non-sectarian private schools include Oneonta Montessori School and Leeway School.
The Los Angeles campus of Platt College is in Alhambra, along with a local branch of Everest College, and the Los Angeles campus of Alliant International University. The University of Southern California's Health Sciences campus is in Alhambra as well.
Commuting Time in Alhambra, CA
The commute time in Alhambra is just under 29 minutes, with nearly 1.5% of the workforce having a super commute of 90 minutes or more. Nearly 10% of the workday commuters carpool and nearly 4% are able to save driving time by working at home.
Access to the integrated transportation systems of Los Angeles County are a boon to both residents and business alike in Alhambra.
- The San Bernardino Freeway runs through the southern part of Alhambra, while the Long Beach Freeway has its northern terminus in the southwestern part of the city.
- Public bus transit in Alhambra is provided by both the Los Angeles Country Metropolitan Transport Authority and Alhambra Community Transit.
- The California High-Speed Rail Authority is reviewing proposals to construct a high-speed rail network along the southern end of the city.
- Alhambra is directly north of the major shipping ports of Los Angeles and Long Beach.
- Los Angeles International Airport is 30 miles from Alhambra, while Bob Hope Airport near Burbank and Ontario International Airport are also nearby.
Alhambra Demographics
Population
- Total Population84,647
- Male Population(48.6 %) 41,105
- Female Population(51.4 %) 43,542
- Median Age40.90
Income/Financial
- Average Household Income$85,656
- Median Household Income$61,384
- Median Income Under 25$33,750
- Median Income 25-44$74,866
- Median Income 45-64$67,064
- Median Income Over 65$39,402
News
The years between 2000 and 2020 have proven to be quite eventful for the U.S. office market. The first decade started on the tail end of the dot-com bubble, which resulted in the boom and bust of an unprecedented real estate bubble. Then, the 2010s were marked by growth and consolidation, only t...
For most of the past century, the U.S. reigned supreme as the home of the tallest buildings in the world. Then, Asia took over. Watch the world’s skyscraper race!
The ongoing COVID-19 outbreak has halted the progress of several commercial real estate projects in New York City. One of them is the latest addition to Kaufman Astoria’s campus ― the Queens Astoria Studios Office — located at 34 36th Street. Work on the 97,000-square-foot Queens office space be...