Gardena, CA Economic Overview
Located in the South Bay Basin area of the Los Angeles metropolitan area, Gardena is just 13 miles south of Los Angeles and is home to over 60,000 residents. This small city of 5.9 square miles is highly urbanized and is aggressively pro-business. Cities bordering Gardena include Torrance, Lawndale, Hawthorne, Redondo Beach, and Carson. Gardena's ideal location to freeway access, passenger & freight rail, and international trade seaports draw new business of all types to the city, keeping commercial real estate in Gardena in high demand.
With a median household income of just under $48,000, income growth is remaining steady with 48% of the households in Gardena having a median income of $60,000 or more per year. Gardena has been nicknamed the 'City of Opportunity' thanks to its new housing, growing business base and dynamic economic environment.
The economy of Gardena is growing due to companies being attracted to Gardena's business-friendly incentives such as the business district policing program, site selection assistance, workforce development programs, facade rebate program, and a 5% local small business credit.
Gardena, CA Commercial Real Estate Market
With its integrated transportation network and its immediate access to Downtown Los Angeles, commercial real estate investment in the Gardena office market offers a competitive advantage. Although vacant land in Gardena is scarce, the city works diligently to attract a continuous flow of new business development and expansion of existing industry. Despite its small size, Gardena is home to over 2,500 businesses and provides employment to thousands of Gardena and South Bay workers.
The two major development corridors in Gardena are the Artesia Corridor and the Rosecrans Corridor. Other significant areas of real estate development in Gardena include the Gardena Market Place, the mixed-use Artesia Square, the multi-family residential development of 15350 S. Van Ness Avenue and Platinum Row on Normandie Avenue, and the nearby 15501 S. Normandie Avenue shopping center facade renovation and business expansion project.
Over 175 manufacturing businesses in Gardena provide service and support to the aerospace industry, metalworking & machinery, food processing, and furniture industries. Some of the largest companies in this business cluster include HITCO Carbon Composites, Chromalloy Corporation, and Crenshaw Lumber Company.
The manufacturing and industrial market in Gardena is also home to companies such as Avcorp Inc., Southwest Offset Printing, Brek Manufacturing, and Z-Gallerie. Gardena is part of the Los Angeles South Bay submarket, which includes nearly 212 million square feet of industrial inventory and boasts a vacancy rate of less than 1%. With the tight leasing market for industrial space in Gardena, the key market indicators of absorption, vacancy and asking rents are all moving in the right directions.
The Los Angeles South Bay office submarket encompasses nearly 31 million square feet of office space and registers a vacancy rate of 17%. As part of this growing market, Gardena’s office scene indicators of net absorption, vacancy, and asking rents are staying healthy.
Large retail tenants in Gardena include the Honda and Nissan car dealerships, Target, Big 5, a new state-of-the-art Best Western Plus, and the 45,000-square-foot Marukai Forum, home to the largest selection of Japanese products in the entire United States.
Gardena, CA Office Rental Rates ($/SF/year)
Data provided by Yardi Matrix, for properties larger than 50K SF.
Gardena, CA Office Sales
Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.
Gardena, CA Commercial Inventory Breakdown
Total: 1,403,616 SF
By square footage range:
- 50k to 100k SF: 374,042 SF / 26.65% of total office
- 100k to 500k SF: 1,029,574 SF / 73.35% of total office
- Class A: 257,476 SF / 18.34% of total office
- Class B: 1,146,140 SF / 81.66% of total office
Total: 4,874,903 SF
By square footage range:
- 50k to 100k SF: 755,092 SF / 15.49% of total industrial
- 100k to 500k SF: 4,119,811 SF / 84.51% of total industrial
- Class A: 1,396,150 SF / 28.64% of total industrial
- Class B: 3,072,911 SF / 63.04% of total industrial
- Class C: 405,842 SF / 8.33% of total industrial
Office Spaces with Retail
Total: 69,617 SF
By square footage range:
- 50k to 100k SF: 69,617 SF / 100% of total office with retail
Employment in Gardena, CA
Job growth in Gardena has increased by nearly 2%, with an unemployment rate of just over 5%. Nearly 28% of the 27,500-strong labor force works in sales, production, transportation, and material moving. Major employers in Gardena include Gardena Memorial Hospital, Hustler Casino, Marukai Corporation, Nissin Foods, Larry Flynt's Lucky Lady Casino, Sam's Club, Southwest Offset Printing, Target, and UPS.
Education in Gardena, CA
Public primary and secondary schools in Gardena are operated by the Los Angeles Unified School District, including Peary Middle School and Gardena High School. Private schools in Gardena are operated by the Roman Catholic Archdiocese of Los Angeles, and include the Junipero Serra High School, the Maria Regina Catholic School, and the St. Anthony of Padua School.
Within 50 miles of Gardena there are over 30 community and junior colleges including El Camino Community College, Los Angeles Southwest College, Long Beach City College, and East Los Angeles College. Universities near Gardena include Cal State L.A. Downtown Campus, University of California Los Angeles - Downtown, and the University of Southern California.
Commuting Time in Gardena, CA
The commute time in Gardena is just under 27 minutes each day, with less than 2% of the workforce having a super commute of 90 minutes or more. Commuting times in Gardena and the Los Angeles metro area can vary widely, and, with this in mind, over 9% of the commuters in Gardena carpool while over 4% use some type of public mass transit.
Gardena boasts a centralized location with access to all major freeways, rail service, and the Los Angeles International Airport.
- I-405, I-110, and Redondo Beach 91 all pass through Gardena.;
- The global, international shipping Port of Los Angeles and the Port of Long Beach are within a few miles of the city.;
- Public bus service in Gardena is operated by the Gardena Municipal Bus Lines.;
- Freight rail service in Gardena is provided by the Union Pacific Railroad.;
- Los Angeles International Airport is just 9 miles northwest of Gardena.
- Total Population82,310
- Male Population(48.2 %) 39,665
- Female Population(51.8 %) 42,645
- Median Age40.50
- Average Household Income$71,569
- Median Household Income$53,964
- Median Income Under 25$31,413
- Median Income 25-44$58,469
- Median Income 45-64$58,709
- Median Income Over 65$44,519
Residential Rents in Gardena, CA
Nearly 50% of the residents in Gardena rent where they live. Rental housing in Gardena is tight, motivating the city to encourage multi-family and mixed-use development. Rents for units of all sizes have increased an average of 12% over the past year, with a one-bedroom unit going for just under $1,200 per month and a three-bedroom apartment renting monthly for $2,600.
Gardena, CA Average Rental Price, July 2019
- $ 1,267/mo
- Studio: $ 1,021
- 1 Bedroom: $ 1,254
- 2 Bedrooms: $ 1,571
Gardena, CA Rent Trends
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