West Covina, CA Economic Overview
West Covina is part of the wider San Gabriel Valley commercial real estate market and is located just 19 miles east of Downtown Los Angeles. This 16-square-mile city is home to nearly 109,000 residents and is in a prime geographic location in the heart of Southern California, between the major metropolitan areas in San Bernardino County, Orange County, and Los Angeles County.
West Covina’s economy sets the city apart from others in the San Gabriel Valley. The city boasts a prominent commercial corridor, which includes over 13.5 million square feet of commercial space, diverse dining & shopping opportunities, quality homes at affordable prices, rising land values, high level of public safety, distinguished schools, outstanding medical facilities, and excellent recreational and entertainment venues.
With a median household income of over $69,000, the economy in West Covina is growing quickly. Over the past year, the median income has grown by nearly 2%, while the number of employees in West Covina has increased by almost 3%.
West Covina, CA Commercial Real Estate Market
West Covina’s main commercial corridor is Interstate 10, which passes through the middle of the city and has a daily vehicle count of nearly 500,000. Businesses located within the 13.5-million-square-foot corridor include a super-regional shopping center, a regional power center, professional office buildings, a major auto plaza and a destination entertainment center. West Covina's outstanding location along the I-10 has played a major role in the city becoming one of the premier destinations in the region.
The majority of the 13.5 million square feet of commercial space along I-10 in West Covina can be attributed to redevelopment, and, in addition, there is more than 1 million square feet of diverse projects under construction, as of mid-2017.
The over 3,000 businesses in West Covina enjoy the benefits of an extremely pro-business government, no city utility taxes, and aggressive redevelopment policies.
There are three major shopping centers in West Covina:
- Plaza West Covina with four anchor tenants taking nearly 557,000 square feet of space along with 208 other shops, stores and restaurants;
- The Eastland Power Center anchored by Walmart and Target, along with larger stores such as Burlington Coat Factory, Dick's Sporting Goods, and Bed, Bath & Beyond;
- The Heights at West Covina with 340,000 square feet of space and free standing PADs for Home Depot and Target.
In addition to these three major retail centers, the city also sustains several smaller neighborhood centers, such as the Island Pacific Plaza, Hong Kong Plaza, West Covina Village, The Lakes at West Covina, South Hills Plaza, and Sunset & Francisquito Shopping Center.
With its proximity to the international deep-water Ports of Los Angeles and Long Beach, its access to major transportation avenues, and freight rail service, West Covina has the ideal proximity to the regional business and transportation hubs of Downtown Los Angeles, Glendale, Burbank, Irvine, Long Beach, and Ontario.
West Covina, CA Commercial Inventory Breakdown
Office Spaces
Total: 1,221,104 SF
By square footage range:
- 50k to 100k SF: 228,914 SF / 18.75% of total office
- 100k to 500k SF: 992,190 SF / 81.25% of total office
By class:
- Class A: 139,466 SF / 11.42% of total office
- Class B: 690,738 SF / 56.57% of total office
Industrial
Total: 96,802 SF
By square footage range:
- 50k to 100k SF: 96,802 SF / 100% of total industrial
By class:
- Class C: 96,802 SF / 100% of total industrial
Office Spaces with Retail
Total: 3,368,460 SF
By square footage range:
- 50k to 100k SF: 528,118 SF / 15.68% of total office with retail
- 100k to 500k SF: 1,215,836 SF / 36.09% of total office with retail
- 500k to 1M SF: 1,624,506 SF / 48.23% of total office with retail
Employment in West Covina, CA
Job growth in West Covina has increased by nearly 3% over the past year, with an unemployment rate of just 6.3%. Over 37% of the labor force works in management, business & finance, education & training, and administration.
Major employers in West Covina include:
- Citrus Valley Medical Center with nearly 1,400 employees;
- West Covina Unified School District with over 1,330;
- the City of West Covina with over 400 workers;
- Target, Walmart, and Macy's with a combined employee count of almost 1,000;
- Concorde Battery with nearly 250 employees;
- the San Gabriel Newspaper Group with nearly 200.
Education in West Covina, CA
Public schools in West Covina are operated by the West Covina Unified School District. There are eight elementary schools, two middle schools, and two high schools in the District. The International Polytechnic High School in Pomona is also available to high school students in West Covina.
Colleges and universities near West Covina include Azusa Pacific University, Citrus College, Mt. San Antonio College, Pasadena City College, Whittier College, and California State Polytechnic University at Pomona.
Commuting Time in West Covina, CA
The average commuting time in West Covina is 33 minutes, which is quite longer than the national average of 24.8 minutes. Over 5% of the workforce has a super commute of 90 minutes or more, with 13% of commuters choosing to carpool, and nearly 4% using some form of public mass transit.
Both residents and businesses in West Covina have access to a wide variety of transportation options:
- The freeways serving West Covina include the I-10, I-605, I-210, State Highways 60 and 57, and State Route 71.
- Bus service in the city is provided by Foothill Transit and the Metro.
- Freight rail service in West Covina is provided by the Transcontinental Union Pacific, Burlington Northern, and Santa Fe Railroads.
- The deep-water facilities of the Port of Long Beach and the Port of Los Angeles are in close proximity to West Covina.
- Los Angeles International Airport, Ontario International Airport, Burbank Airport, and John Wayne Airport are all easily accessible from West Covina.
West Covina Demographics
Population
- Total Population107,786
- Male Population(49.0 %) 52,829
- Female Population(51.0 %) 54,957
- Median Age37.40
Income/Financial
- Average Household Income$89,246
- Median Household Income$74,551
- Median Income Under 25$29,561
- Median Income 25-44$76,305
- Median Income 45-64$88,309
- Median Income Over 65$50,272
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