Laguna Niguel had a population of 62,979 as of 2010 and is one of the most suburban among the various cities in Orange County, California. It is located in the southeastern portion of the county and it is a master-planned community, which was one of the very first in this county. The purpose was to develop a bedroom community and this has now become a rich community. Its median household income is 31% above the average of the county and is almost 50% higher compared to the national average. It is believed to be one of the safest cities in the county and it is considered to be a beautiful city with its many parks and public trails.
The Community Services District of Laguna Niguel was established in1986 and then on November 7, 1989, 89% of the members voted to incorporate the city. Thus, it became the 29th city in the county on December 1, 1989.
Laguna Niguel Industrial Building for Sale & Lease – Should You Buy or Lease?
If you plan on having some industrial space in Laguna Niguel, whether as an investment or for running a business out of, you have two choices: buy or lease.
The benefits of buying industrial space include the fact that:
- Your monthly amortization costs stay the same for the duration of the mortgage.
- You can file for a number of tax deductions, including property taxes and mortgage interests.
- You can lease out some of your space so that you can have an additional income stream.
- The value of the property will tend to rise over time.
On the other hand, the downsides of buying include the fact that:
- You will not be able to act as fast as you want to in certain circumstances. For instance, if your business grows much faster or anticipated, or if it suddenly has to be shut down, you will have to sell the property first and this process takes time.
- Your initial costs will be high. There will be at least a 30% down payment on the mortgage and you will also need to pay for maintenance, appraisal, and other property expenses.
If you lease your industrial space, the advantages include the fact that:
- You may be able to lease a prime industrial property, which can do wonders to your reputation.
- You have a larger working capital because initial costs are not as huge as when you are buying.
- You are able to avoid the various problems that come with property ownership.
Meanwhile, the disadvantages of leasing include the fact that:
- Your monthly expenses will likely increase over time as the rent increases.
- You do not accumulate any equity in the property, since it is not your own property.
Below are some information on the trends and statistics in terms of prices, supply, and demand, to help you decided whether to buy or to lease industrial space in Laguna Niguel.
Laguna Niguel Industrial Property for Sale – Trends and Statistics
- The asking prices for industrial properties in Laguna Niguel in dollars per square foot is $222.13, which is a 2.7% increase over the past three months, and a 10.9% increase year on year. This is higher than the metro ($195.29) area and state ($142.69) area.
- The index of total dollars available for industrial properties for sale in Los Angeles-Long Beach-Laguna Niguel is 28, which represents a 6.7% increase over the past three months but a 2.9% decrease year on year.
- The index of total number of listings of industrial properties available in Los Angeles-Long Beach-Laguna Niguel is 26, which is a 7.7% increase over the past three months, but a 7.2% increase year on year.
- The profile view index industrial property for sale in the Los Angeles-Long Beach-Laguna Niguel metro area is 174, which is a 19.2% increase over the past three months, and a 30.9% increase year on year.
- The index of total square feet of available industrial space for sale in the Los Angeles-Long Beach-Laguna Niguel metro area is 26, which is a 0.2% decrease over the past three months, and an 18.8% decrease year on year.
Laguna Niguel Industrial Property for Lease – Trends and Statistics
- The asking rent for industrial properties for lease in Laguna Niguel in dollars per square foot per year is $12.93. This represents a 1.3% increase over the past three months, and a 10.1% increase year on year. This is higher than the state ($10.31) area and the metro ($11.75) area.
- The index of total number of industrial spaces for lease in the Los Angeles-Long Beach-Laguna Niguel area is 34, which represents a 0.5% decrease over the past three months and an 11.9% decrease year on year.
- The profile view index for industrial properties for lease in the Los Angeles-Long Beach-Laguna Niguel area is 128, which is a 51.9% decrease over the past three months and a 43.5% decrease year on year.
- The index of total square feet of industrial space available for lease in the Los Angeles-Long Beach-Laguna Niguel area is 29, which is an 8.7% decrease over the past three months and a 20.8% decrease year on year.