Current Los Angeles market trends data indicates an increase of +6.5% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +32.9% compared to last year's prices. County-wide, asking prices for Industrial properties are 3.9% higher at $195 per sq ft compared to the current median price of $261 per sq ft for Industrial properties in Los Angeles, CA.
So, what does it mean to have "Grandfathered Use" of Commercial Property? grandfather clause definition: n. 1) a clause in a statute or zoning ordinance (particularly a city ordinance) which permits the operator of a business or a land owner to be exempt from restrictions on use if the business or property continues to be used as it was when the law was adopted. Upon passage of the statute or regulation, the specific property may be referred to as "grandfathered in." Example: