La Habra is found in the northwest of California’s Orange County. It is not to be confused with La Habra Heights, which is to the north of it, as this is part of Los Angeles County. According to the 2010 U.S. Census, La Habra was home to 60,239 people. It has a reasonably strong economy, with the top employers being CVS/Pharmacy, Wal-Mart, the City of La Habra, Target, Costco, the La Habra Bakery, Kohl’s, The Home Depot, La Habra Convalescence Hospital, Lowe’s, and VIP Rubber. As such, the city’s economy is based mostly on retail and manufacturing.
According to the 2010 U.S. Census, the median household income was $60,954 at that time and about 14% of the people were living below the federal poverty line. Nevertheless, that was a significant improvement from the 2000 census, when the median household income was just $47,652 and at least 19.1% of the residents lived below the poverty line.
La Habra Industrial Building for Sale & Lease – Should You Buy or Lease?
If you are interested in industrial space in La Habra, you can either buy or lease. There are pros and cons to both of these options.
Looking first at buying industrial space, the pros include the fact that:
- Your monthly costs are fixed for the duration of the mortgage
- You can claim some good tax deductions, including property taxes and mortgage interests.
- You can rent out some of the space to get some extra cash inflow.
- The value of the industrial property tends to rise over time.
Meanwhile, the cons for purchasing industrial property include the fact that:
- You will find it harder to move to a new location in the event that your business grows much faster that you had anticipated, or when your business suddenly contracts, because you will need to sell the property first.
- You high upfront costs, not in the least a 30% down payment on the mortgage. You will also have maintenance, appraisal, and other property costs to pay.
Your other option is to lease industrial space, which has a number of benefits, including the fact that:
- It is possible to lease a prime property, which can help with your reputation.
- You have more working capital because you don’t have to pay for a down payment.
- You can concentrate on running your business because you are free from the problems that often arise from property ownership.
On the other hand, the disadvantages of leasing industrial space include the fact that:
- Your monthly costs will tend to rise because of possible rent increases.
- You do not build up any equity in the property, since you don’t own it.
To help choose between the two options, being aware of the trends and statistics in terms of prices, supply, and demand, can be very beneficial.
La Habra Industrial Property for Sale – Trends and Statistics
- The asking prices for industrial properties in La Habra in dollars per square foot is $222.13, which is a 2.7% 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-La Habra 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-La Habra is 26, which is a 7.7% increase over the past three months and a 7.2% increase year on year.
- The profile view index industrial property for sale in the Los Angeles-Long Beach-La Habra 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-La Habra metro area is 26, which is a 0.2% decrease over the past three months, and an 18.8% decrease year on year.
La Habra Industrial Property for Lease – Trends and Statistics
- The asking rent for industrial properties for lease in La Habra 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-La Habra 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-La Habra 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-La Habra area is 29, which is an 8.7% decrease over the past three months, and a 20.8% decrease year on year.