Inglewood, CA Economic Overview
Inglewood is part of the Greater Los Angeles office scene and is located only six miles southwest of Downtown Los Angeles. The city is home to over 111,000 residents and is immediately adjacent to the Los Angeles International Airport. Neighboring cities include Ladera Heights, Culver City, Los Angeles, Huntington Park, and Hawthorne. The commercial real estate market in Inglewood is driven in large part by the recently announced Los Angeles Stadium at Hollywood Park, future home of the NFL Los Angeles Rams.
Nicknamed 'The City of Champions', Inglewood is located just six miles east of the Pacific Ocean and has a robust, diverse economy that is supported by the pro-business local government.
As part of Los Angeles County, Inglewood benefits from its huge consumer market of 10 million people. L.A. County conducts more than $400 billion in annual two-way trade, and Inglewood has easy access to the Ports of Long Beach and Los Angeles, as well as Los Angeles International Airport, the country's third most active international cargo airport.
With a median household income of just over $42,000, the economy in Inglewood remains strong and steady. Over the past year, the population in Inglewood has increased by nearly 2%, while the number of employees in Inglewood has grown by nearly 1.5% over the past year alone.
Inglewood, CA Commercial Real Estate Market
A diverse mix of business and industry contributes to the growth of the Inglewood office market, the most prominent being health care, entertainment and sports.
Inglewood is home to the award-winning Centinela Hospital Medical Center, which was ranked as one of the top 10 hospitals in the country. The Forum in Inglewood is a multi-purpose indoor arena owned by the Madison Square Garden Company, operated by MSG Entertainment, and sponsored by Chase.
The most prominent mixed-use commercial real estate development in Inglewood is the Hollywood Park project. With an anticipated completion date set for 2020, the 230-acre mixed-use site will include the Los Angeles Stadium, home to the National Football League's Los Angeles Rams. Hollywood Park will also feature 3,000 residential units; 890,000 square feet of retail; 780,000 square feet of office, hotel, and entertainment space; and over 40 acres of open recreational space.
The development site surrounding Hollywood Park will also include over 8.5 million square feet destined for business parks. The project has also brought more than 22,000 construction-related jobs to Inglewood and will create over 12,000 full- and part-time jobs when building is completed.
Other major economic investments and development projects in Inglewood include the Metro Rail LAX Crenshaw Line & Florence Station, the $20 million La Brea Corridor enhancement, the $30 million Century Boulevard Corridor Enhancement, a new 40,000-square-foot Senior Center, and a new emergency center at Centinela Hospital.
Inglewood serves as a major gateway to most U.S. commercial centers. The Los Angeles International Airport, the country's third most active international cargo airport, is directly accessible via Century Boulevard in Inglewood. The city's proximity to LAX, the major international shipping ports of Los Angeles and Long Beach, and four major freeways boost the domestic and international trade found within the City of Inglewood.
Inglewood, CA Commercial Inventory Breakdown
Total: 1,755,621 SF
By square footage range:
- 50k to 100k SF: 549,462 SF / 31.3% of total office
- 100k to 500k SF: 706,159 SF / 40.22% of total office
- 500k to 1M SF: 500,000 SF / 28.48% of total office
- Class B: 1,255,621 SF / 71.52% of total office
Total: 916,077 SF
By square footage range:
- 50k to 100k SF: 184,296 SF / 20.12% of total industrial
- 100k to 500k SF: 731,781 SF / 79.88% of total industrial
- Class A: 284,040 SF / 31.01% of total industrial
- Class B: 632,037 SF / 68.99% of total industrial
Office Spaces with Retail
Total: 710,889 SF
By square footage range:
- 50k to 100k SF: 136,737 SF / 19.23% of total office with retail
- 100k to 500k SF: 574,152 SF / 80.77% of total office with retail
Employment in Inglewood, CA
Job growth in Inglewood has increased by nearly 1.5% over the past year, boasting an unemployment rate of 6.8%. Over 42% of the labor force works in administration, cleaning and maintenance, food service, transportation, and production.
Employers in Inglewood are drawn by the variety of industrial and retail sites available, the varied land, air and rail shipping services, and the diverse choices of housing for employees – from the executive homes in nearby beach-front communities to more affordable multifamily, single family and vintage homes.
Major employers in Inglewood include the Forum/Madison Square Garden, Hollywood Park, City of Inglewood, Centinela Hospital, Kaiser Permanente, Marvin Engineering Group, Costco, Target, Ross Stores, and Valero.
Education in Inglewood, CA
Public schools in Inglewood are operated by the Inglewood Unified School District. In addition to the city's numerous public primary, middle, and secondary schools, there are also several public charter schools in Inglewood including Animo Leadership Charter High School, and several private schools including St. Mary's Academy and St. John Chrysostom Elementary School.
Colleges and universities near Inglewood include the University of West Los Angeles, Northrop University, and Crimson Technical College.
Commuting Time in Inglewood, CA
The commuting time in Inglewood is just under 29 minutes, about 10% higher than the national average. Nearly 4% of the workforce has a super commute of 90 minutes or more, with over 12% of the work day commuters choosing to carpool and nearly 8% opting for public mass transit.
Commuters in Inglewood have access to the integrated transportation systems of Los Angeles County, which are a boon to both residents and business.
- The I-105 Century Freeway, the I-405 Santa Monica Freeway both run through the city.
- The proposed LAX-Crenshaw Light Rail Transit system will run through the central business district of Inglewood.
- Inglewood is due north of the major shipping ports of Los Angeles and Long Beach.
- Los Angeles International Airport, Bob Hope Airport, and Ontario International Airport all provide air travel from Inglewood.
- Total Population111,006
- Male Population(47.5 %) 52,757
- Female Population(52.5 %) 58,249
- Median Age34.50
- Average Household Income$62,556
- Median Household Income$46,389
- Median Income Under 25$39,891
- Median Income 25-44$42,828
- Median Income 45-64$54,719
- Median Income Over 65$38,989
Looking to Relocate Your Business? Phoenix is Your Best Bet
November 01, 2017
Amazon’s search for a new home has stirred up city officials and developers across the country, and 238 applicants across North America have expressed interest in housing the company’s next headquarters. Of course, the retail giant has a few requirements: the chosen metropolitan area should idea...
Top 10 LA Office Market Highlights of 2016
February 03, 2017
Key findings: Office investment in Los Angeles totaled $10.8B in 2016–a new post-downturn peak; Q4 2016 office absorption topped the $2M mark for the first time in 11 years; More than 2 million square feet of office space are currently underway in Los Angeles. Q4 Office Absorption Tops 2M Sq. Ft...