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The AV covers more than 3000 sq miles in the Grater Los Angeles region. It has lots of affordable land for commercial and industrial. The AV includes 5 incorporated cities and numerous unincorporated communities. The AV used to be dependent only on the areospace industry. Now, the valley has made significant progress in diversifying its industrial base. "Combined with a fast growing retail market, business and industry are transforming the valley into a strong, indepentent and influential economic region.", Antelope Valley Guide.
The total population is approaching 450,000. Almost $3.7 billion in sales were taken in 2006, a 12.3% increase over 2005, and over the last 2 year period, grew 30.6%
Commercial and residential development have been moving at record levels in the Palmdale and Lancaster areas in recent years, according to California Economic Forecast. Retail growth is strong, and vacancy rates for retail has dropped to less than 3%. Population growth has grown, and even with the doom sayers saying housing is going down, there is still demand for both new and existing homes. Home sales in 2005 and 2006 remained at record levels, but 2007 brought in the long expected real estate price correction. Real Estate forecasts are offered up by many, but nobody can be certain what its condition will be in the short term, however over the long haul, real estate has always been a great investment.
Some milestones for the AV has been: A new $3.5 million University Center opened on the old fairgrounds. They offer students advanced degree programs from CSU Bakersfield and CSU Fresno. There is a new Countrywide building covering 13 acres , for loan processing; a new Loews in Lancaster; a Regent Aerospace 80000 sq ft manufacturing facility.
As the population increases, new employers are coming in, taking advantage of low land prices, attractive location and the new workforce. The Lancaster Business Park has more than 100 employers with over 4100 employees. The Fox Field Industrial Corridor and the North Valley Industrial Center is under rapid growth. The new Lancaster Spectrum Center got its approval, including a La Quinta Inn and 125000 sq ft of retail space. There was another 250000 sq ft under development in 2006. The highly anticipated AV Hospital addition is adding 75000sq ft.
More than 500000 sq ft of entertainment, including dining and retail space are under way at Lancaster' Front Row Center in 2007. The Children's Center of the AV's new $2.5 million home in downtown Lancaster has opened.
Palmdale has enjoyed it progress also. Delta Scientific Corp. opened a second location in the Fairway Business Park, and a $ 10 million transportation center was built. The city's Dry Town Water Park and Mining Co. opened, and an outdoor amphitheater and pool were opened at Marie Kerr Park. All over the city, industrial, commercial and office space totaling over 2 million sq ft has been completed or approved.
Palmdale's Foreign Trade Zone grew to include more than 90 acres at Mojave Airport, and the first phase of the downtown revitalization was completed. FedEx opened a 55000 sq ft distribution center in the Fairway Business Park, and a new Wal Mart supercenter opened, for a total of 4 WalMart supercenters in-the AV. A several million dollar renovation project occurred at the AV Mall. Also, the massive 7200 home Ritter Rance in underway.
The Palmdale Trade and Commerce Center has numerous projects under way, including a 69000 sq ft office condominium, an 18100 sq ft professional office building, and 7 medical office buildings totaling 52100 sq ft. The Palmdale Regional Hospital is under way, and nearly 500000 sq ft of industrial and commercial buildings are being done.
The total permit value for new commercial and industrial construction has been fairly constant since 2000. Lancaster had $225 million of investment and Palmdale had $235 million. Industrial lots of all shapes, sizes and locations are selling quickly. The demand for inexpensive industrial land is growing. The region can even help out with Los Angeles needing more industrial space.
Come check us out. We have something for everyone. Any questions, feel free to contact me.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.