Industry/Commercial Property

Land Availability & Pricing

The Los Angeles County Economic Development Corp. estimates that the Los Angeles area will have an annual shortfall of 11 Million sq.ft. for business development.

The Greater Antelope Valley economic region offers a viable solution, with Southern California's largest inventory of competitively priced land for homes, offices, businesses and manufacturing. Industrial zoned sites from 5 to 500 acres are available throughout the region, and in all stages development readiness, from unimproved to fully improved.

Average lease rates industrial gross

· Lease rates range from $0.37 - $0.65 per sq.ft.

· Multi-tenant Business Park Space is $0.51 per sq.ft. on average

· Single-user Divisible Industrial Space ranges from $.046 - .070 per sq.ft.

Fully Improved Industrial Sites

Antelope Valley

$2.50-$3.00 per sq.ft.

Meeting the Need!

As compared to

Industrial Sites in the

San Fernando Valley

$25.00 per sq.ft.

Business & Industrial Park Sites

NAME LOCATION SIZE STATUS / NOTES

Airport Industry Park California City 40 acres 20 & 30,000 sq.ft. Bldgs. M-1

Par Commerce Center Lancaster 50,000 sq.ft. 30,000 s/f New Light Industrial

North Valley Industrial Ctr. Lancaster 16,000 sq.ft. Spec Bldg., first of 15 units

LANCO Spec Building Lancaster 61,000 sq.ft. Completion Summer 2000

Park One Industrial Complex Palmdale 3 spec bldgs. 11,000 - 24,000 sq.ft.

Trade & Commerce Center Palmdale 2 spec bldgs. 2 Spec Bldgs. at 20,850 per sq.ft.

Avenue O Industrial Park Palmdale 120 acres In Infrastructure Development
Lancaster Business Park Lancaster

Greater Antelope Valley Economic Alliance

1 (800) 888-7483

Industry Roundtable Report

FIRST HALF 2000

Industry/Commercial/Retail Property

Commercial & Retail Space Inventory

Observations & Summary

n Occupancy Increased

¨ Occupancy rates continued to rise in the Antelope Valley

Commercial / Retail space sector through the first half of 2000.
¨ The number of retail centers with vacancy rates of 30% declined from previous reports, and the number of Commercial / Retail areas at or near 100% occupancy increased.

¨ Location continues to be the key indicator in high occupancy centers.

¨ Highest rates of occupancy were found in newer commercial centers on major streets and in older street-front business areas on major thorough- fares.

n Increasing Demand

¨ Demand is especially strong for Class A retail in growth areas.

¨ The growth of mixed-use office and service business tenants was again noted in many formerly all-retail centers.

¨ New Commercial / Retail inventory continues to come online at the AV Mall in Palmdale and on 10th Street West in both Palmdale and Lancaster.

n Large Retail Centers

¨ The number of older large square footage vacancies declined from three to two in Palmdale. Mojave and Lancaster each have one large space retail vacancy.

Occupancy Rising

Survey Notes:

Occupied Occupied Occupied

Fall 1999 Spring 2000 Fall 2000

LANCASTER 86% 89% 89%

PALMDALE 85% 87% 88%

QUARTZ HILL 85% 87% 88%

Greater Antelope Valley Economic Alliance

1 (800) 888-7483

Industry Roundtable Report

FIRST HALF 2000

¨ All numbers are based on actual counts made over a three-day period in September, unless otherwise noted. Long abandoned and distressed commercial properties were not included.

¨ The retail vacancy report is based on storefront count, NOT on square footage. Vacancy rates

based on square footage estimates from leasing agents are substantially lower than the unit count

provides-in the range of 8 to 10 percent for the region.
¨ While every effort was made to cover the entire market, some smaller centers and freestanding structures are not included. This report is intended as a survey, not a total census.

Not included in this survey were: Dedicated office buildings; auto dealerships; gasoline stations

and mini-marts. Transitional space was not factored into results. In other words, an undetermined percentage of commercial and retail space shown here as vacant may well have been leased but

not yet occupied during the survey period.