The nonresidential property industry in Los Angeles and other parts of California continues to thrive, especially in the area of industrial buildings. The reason for this is that more companies need buildings that can be used for fulfillment and distribution activities related to electronic commerce. However, a new trend in the industry is that more buildings featuring commercial leases will end up being vertical rather than horizontal.
A warehouse project in the North Bay is specifically poised to cause more buildings to stand taller than ever before. Site work for this project started recently for more than a million square feet. Two cross-loading structures spanning 702,000 and 362,000 square feet are slated to be completed in late 2019 and will stand 40 feet tall.
With taller buildings beginning to pick up steam, the working world will soon have to make adjustments to accommodate this change. Specifically, layout and equipment upgrades may be required. For instance, taller racking will be needed for inventory purposes, along with forklifts that can reach higher heights, and even mezzanine decking.
The world of commercial real estate can no doubt be exciting due to its constantly evolving nature today. However, purchasing buildings featuring commercial leases can understandably be confusing and even intimidating. After all, even for those who are not necessarily novices in this area, no two commercial real estate transactions are exactly the same. Fortunately, an attorney in Los Angeles can provide the legal guidance needed to complete even complicated commercial real estate deals in the most favorable manner possible.