Market conditions are expected to remain tight over the coming two to three quarters. Asking rental rates have hovered in the $0.40 to $0.42 per SF range for the past two and a half years. At the end of the 2nd Q 2003, they averaged $0.42 per SF triple net (NNN), up from $0.40 per SF the previous quarter. Asking rental rates for big-box space were highest in the Foothill Freeway Submarket ($0.40 per SF) and lowest in Chino and Industry Submarkets ($0.34 per SF). The property valuation industry is very large and the scope of property valuation services is tremendously huge to handle the all types of processes which have relation with property.
Average sale prices have climbed sharply in the past three years, and averaged $64 per SF in the 2nd Q. Demand from buyers, stimulated by low vacancy rates and low interest rates, is very strong in the San Gabriel Valley; however, lack of product is limiting the amount of activity that can take place and is placing upward pressure on prices.
Over the next two to three quarters, we expect effective rental rates and sale prices to remain firm (or even increase slightly) as the economy improves. Panattoni Development Company has plans to construct 19 buildings in the City of Chino. CB Investors is marketing a 355,000-SF industrial building in Pomona for sale as an investment.
RREEF is expected to sell a 181,000-SF industrial facility located on Rowland Street in the City of Industry to a local user. Elite Leather has signed with Turner Development for a 96,000-SF build-to-suit industrial facility in South Chino. The City of Industry is planning to acquire the Exide Battery site in the City of Industry. Among all that other processes one process is related to property valuation process which is made for the people who are deliberately in need to improve their house by knowing their initial and basic price of house.
Layton-Belling & Associates acquired The Concourse, a mixed-use project in the City of Industry, from Copley- Industry-Gale #1 Associates, G.P. Panattoni Development Company closed escrow on a 10-acre parcel of land located on Schaefer Avenue in Chino. Snyder Langston closed escrow on six industrial facilities totaling approximately 219,000 SF at the Imperial Business Park located in the City of Industry. And this is possible if you contact any property valuer to perform your process. In this way you be able to will face all right steps and process for your property valuation process.
Alorica leased a 108,700-SF industrial facility in Chino from Trammell Crow Company. Diamond Flooring leased a 106,200-SF industrial building at the Fairway Industrial Park in the City of Industry from Majestic Realty. Aeolus Down leased a 103,200-SF industrial building in Chino from EDI Realty.
But the steps are regularly with government departments to follow the rules and regulations which are needed to maintain the legal honesty of the real estate field. The basic advantage of conducting the property valuation process on your property is that you will get your house price within one day of time.