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Commercial Real Estate in LA Mirada, CA - 53 Properties Available

La Mirada, CA Economic Overview

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Located in Southeast Los Angeles County, La Mirada lies between the City of Los Angeles, Orange County, and the Pacific Ocean. With just under 50,000 residents La Mirada has one of the highest household incomes in the area and is home to a diverse number of industries attracted by the city's location, business-friendly attitude, low taxes and fees, and low project development costs. La Mirada's closeness to major airports, interstate freeways and commuter and freight rail service make the city easily accessible to all areas of the Los Angeles-Long Beach-Anaheim MSA and keeps commercial real estate in La Mirada in demand.

With a median household income of over $79,000 a year and an average household income of over $91,000, both residents and business are attracted to the economic growth in La Mirada, its transportation access, well-educated workforce, and the overall outstanding quality of living for both residents and business.

La Mirada has been recognized as One of The Best Places to Live in America by CNN's Money Magazine, has been called the Most Business Friendly City by the L.A. County Economic Development Corporation, and has been ranked three years in a row by the Kosmont-Rose Institute as one of Southern California's least expensive places to do business.

La Mirada, CA Commercial Real Estate Market

The growth of the La Mirada office market is driven by its great location between Los Angeles and Orange County, and its well-defined areas of residential, commercial, and industrial development. The City understands the importance of promoting an economy characterized by ample and diversified goods and services, job growth, and a strong tax base for city services and community development.

Commercial development in La Mirada is focused on 12 development districts along the Imperial Highway Corridor, the I-5 Santa Ana Freeway, and Rosecrans Avenue, with the City partnering with developers, property owners and key commercial tenants to redevelop several existing centers. Some of the main development districts in La Mirada include the Crossroads Shopping Center District, Green Hills Plaza Northwest & Southeast, the Home Depot Shopping Center District, the Imperial Plaza District, and the Valley View Square Center.

The industrial inventory in La Mirada is nearly 18 million square feet. Add to that over 766,000 square feet of office inventory and nearly 3.8 million square feet of retail space.

As part of the Los Angeles South Bay submarket, the City is taking a pro-active approach to redevelopment and is partnering with real estate investors and business owners to rejuvenate properties, and in the process, bringing increased economic activity and jobs to the City. La Mirada offers low taxes and fees, expedited development review, low development costs, and no municipal-levied tax for property or utility use.

La Mirada, CA Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

La Mirada, CA Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

LA Mirada, CA Commercial Inventory Breakdown

Office Spaces

Total: 375,515 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 240,246 SF / 63.98% of total office
  • 100k to 500k SF: 135,269 SF / 36.02% of total office

By class:

  • Class B: 375,515 SF / 100% of total office

Industrial

Total: 8,993,399 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 50k to 100k SF: 370,720 SF / 4.12% of total industrial
  • 100k to 500k SF: 8,622,679 SF / 95.88% of total industrial

By class:

  • Class A: 4,445,478 SF / 49.43% of total industrial
  • Class B: 4,547,921 SF / 50.57% of total industrial

Employment in La Mirada, CA

Employment

Job growth in La Mirada has remained steady, with an unemployment rate of just 3.6%. Nearly 48% of the labor force works in the areas of management, education & training, business & financial operations, administration, and food service.

Major employers in La Mirada include:

  • Biola University with nearly 1,400 employees;
  • U.S. Food service with 700 employees;
  • Norwalk-La Mirada Unified School District with nearly 400 people;
  • Kindred Hospital La Mirada with nearly 300 workers;
  • The City of La Mirada with nearly 300 employees;
  • A Better Tomorrow Education with 250 employees;
  • Crothall Healthcare with over 200 workers.

Education in La Mirada, CA

Public education in La Mirada is governed by the Norwalk-La Mirada Unified School District, which operates 17 elementary schools, six middle schools, and four high schools in La Mirada and neighboring Norwalk. Private schools in La Mirada include St. Paul of the Cross School, and Beatitudes of Our Lord School.

La Mirada is home to Biola University, a nationally ranked Christian University offering biblically centered education, spiritual development, and vocational preparation. Other colleges and universities near La Mirada include Bethesda University of California, Cerritos College, Everest College Anaheim, Whittier College, and West Coast University Orange County.

Commuting Time in La Mirada, CA

The commute time in La Mirada is just over 29 minutes a day, although times can vary widely for work day commuters traveling throughout the metro area to their jobs. Over 2% of the workforce has a super commute of 90 minutes or more. Almost 8% of the work week commuters car pool, while over 3% of the labor force takes advantage of the small size of the city by walking to work.

La Mirada is close to major airports, interstate freeways, and both commuter and freight rail services.

  • Interstate 5 passes through La Mirada, and State Route 30 goes through the east end of the city.;
  • A Metrolink Commuter Rail station is located in La Mirada, with Norwalk Transit and Montebello Bus Lines providing regular bus public transportation.;
  • Freight rail service in La Mirada is provided by BNSF Railway, while Union Pacific operates along Interstate 5 and serves the city's southern industrial areas.;
  • Airports near La Mirada include Los Angeles, Long Beach,and Ontario International Airports.

LA Mirada Demographics

Population

  • Total Population49,162
  • Male Population(49.5 %) 24,348
  • Female Population(50.5 %) 24,814
  • Median Age39.10

Income/Financial

  • Average Household Income$99,986
  • Median Household Income$87,400
  • Median Income Under 25$55,956
  • Median Income 25-44$103,470
  • Median Income 45-64$104,852
  • Median Income Over 65$48,040

Residential Rents in La Mirada, CA

Less than 23% of the residents in La Mirada rent where they live, giving the city one of the lowest percentage of renters in the Los Angeles-Long Beach-Anaheim Metropolitan Statistical Area. The supply of residential rental units in La Mirada is tight, causing rents to jump by 25% this past year for a one-bedroom unit.

When they can be found, one-bedroom apartments in La Mirada rent for just under $2,000 per month, while three-bedroom units have a monthly median rent of $2,750. The most expensive rental markets in the vicinity of La Mirada include Cerritos, Montebello, and Commerce, while the most affordable areas near La Mirada include South Whittier, East La Mirada, and Lynwood.

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