City of Industry, CA - Office Market Overview
Also know by the name of 'Industry', the City of Industry area includes the neighboring Arcadia, Monrovia, and Glendora commercial real estate markets. While the Industry is technically a city, having been incorporated back in 1957, this tiny 12-square-mile place is home to just over 200 people. As the name implies, the commercial real estate market in Industry is an industrial powerhouse for the San Gabriel Valley region of Los Angeles County.
As a suburb of the City of Los Angeles, the City of Industry is a go-to destination for almost all industrial business types in the region, creating more than 80,000 jobs in the city. The City of Industry shows a small but predictable demand for office space year over year.
City of Industry, CA - Office Inventory Description
The City of Industry is almost entirely industrial, and is home to over 2,500 businesses of practically all types. While small, the office inventory in the City of Industry is relatively robust. Class A product accounts for less than 24% of the over 1.1 million square feet of Industry office space. Class B makes up the bulk of local inventory.
Located mainly along both State Route 60 and Valley Boulevard, investment-grade office buildings in the City of Industry include the Puente Hills Business Center - 17700 Castleton Street, the Councourse Business Park - 18605 & 18645 East Gale Avenue, and the Puente Hills Business Center - 17870 & 17890 Castleton Street.
Industry, CA Commercial Inventory Breakdown
Total: 495,161 SF
By square footage range:
- 50k to 100k SF: 133,322 SF / 26.92% of total office
- 100k to 500k SF: 361,839 SF / 73.08% of total office
- Class A: 107,193 SF / 21.65% of total office
- Class B: 387,968 SF / 78.35% of total office
City of Industry, CA - Green Office Space
Over the past 12 years, the percentage of green buildings, LEED-certified, and EPA Energy Star-rated office buildings has increased by about 33%. The most recent National Green Building Adoption Index reviewed the top 30 major office markets in the country and discovered that from 2005, when the average percentage of green office space was less than 5%, this figure has since increased to about 38% by mid-2017.
One example of a LEED-certified office building in the City of Industry area can be found in the nearby Diamond Bar commercial real estate market. Located in Diamond Bar, the Gateway Corporate Center on 21688 Gateway Center Drive brings over 81,000 square feet of LEED-proposed green office space to the market.
City of Industry, CA's Top Office-Using Sectors
While the Industry commercial real estate market is primarily driven by the large number of industrial businesses within the city, there is also predictable demand for office space in Industry. Some of the top office-using sectors in the City of Industry, CA, include:
- Industrial – Among this top office-using segment in the City of Industry are companies such as Dacor, Engineering Model Associates/Plastruct, and Serec of California.
- Light Manufacturing – Demand for office space in the City of Industry also comes from businesses such as Emtek Products, Utility Trailer Manufacturing Company, Yum-Yum Donuts, and Medlock Industries.
- Medical – Public Health Foundation Enterprises, Inc., Health One Pharmaceuticals, and Biostar all help to drive demand for commercial real estate in Industry.
- Corporate Office – Lee Kum Kee, Goya Foods, Golden State Foods, Bank of the West, and Metro United Bank all help to create white collar employment in the City of Industry.
- Total Population334
- Male Population(49.1 %) 164
- Female Population(50.9 %) 170
- Median Age30.80
- Average Household Income$85,206
- Median Household Income$74,464
- Median Income 25-44$101,875
- Median Income 45-64$73,750
- Median Income Over 65$50,313