Commerce, CA - Office Market Overview
Also known as The City of Commerce, it’s neighbors include the Cerritos, Downey, and La Mirada commercial real estate markets. While the City of Commerce is home to only about 13,000 people, it is part of the Greater Los Angeles metro area, which is home to over 13 million residents. Due to its freeway access and railroad yards, Commerce attracts a wide variety of manufacturing and distribution businesses.
As of mid-2017, the Commerce office market encompasses nearly 1.4 million square feet of existing office space in properties larger than 50,000 square feet. The commercial real estate market in Commerce benefits from the varied international trade that passes through the city's rail yards to the Ports of Los Angeles and Long Beach.
Commerce, CA - Office Inventory Description
Located along Interstate 5 just southeast of Los Angeles, the demand for office space in Commerce is consistent and predictable. Of the 1.4 million square feet of larger office space in the city, over 72% is Class B office space, with Class C product adding just over 375,000 square feet of additional space to the Commerce office market.
The larger office buildings in Commerce can be found along the Santa Ana Freeway, and along South Eastern Avenue near the intersection of Slauson Avenue. Among the investment-grade office buildings in Commerce is Commerce Square on East Washington Boulevard, Commerce Plaza, and the Commerce Corporate Building at 5800 South Eastern Avenue.
Commerce, CA - Green Office Space
The percentage of green office space, LEED-certified office buildings, and EPA Energy Star-rated buildings is growing across all of the major office markets in California and in the U.S. According to the 2017 National Green Building Adoption Index, the percentage across the top 30 office markets in the country has increased by 33% since 2005.
Green office space in Commerce and the State of California isn't just for brand new buildings. Take the PacMutual Building in Los Angeles, for example. This is the only historic building to earn the highly coveted LEED Platinum certification for building sustainability. Located on West 6th Street in the Downtown Los Angeles commercial real estate market, this Class A office building was constructed over 100 years ago, back in 1908, and offers over 464,000 square feet of green office space.
Commerce, CA's Top Office-Using Sectors
The Commerce office market sees consistent demand from the top office-using sectors of transportation & distribution, government, service business, and large corporate office users.
- Transportation & Distribution – Unified Grocers and Gibson Overseas are two of the larger companies in this business sector.
- Government – The County of Los Angeles and the City of Commerce are two of the largest creators of white collar office employment in Commerce.
- Service – The Commerce Casino, Smart & Final, 99 Cents Only Stores, and Wine Warehouse, along with the numerous small businesses that they attract, all help to create demand for commercial real estate and office space in Commerce.
- Corporate Office – Parsec, American International Industries, Valassis Direct Mail, and AT&T California all help to drive the demand for office space in Commerce.
- Total Population12,998
- Male Population(49.9 %) 6,492
- Female Population(50.1 %) 6,506
- Median Age34.70
- Average Household Income$54,733
- Median Household Income$42,734
- Median Income Under 25$37,847
- Median Income 25-44$49,500
- Median Income 45-64$53,600
- Median Income Over 65$26,417
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