California Assembly Bill 1000, which would have largely shut down industrial development statewide on properties larger than 100,000 square feet, failed to pass the California State Assembly Local Government Committee. The bill only received two “yes” votes and was unable to advance out of committee. NAIOP SoCal declared this a significant victory for their organization and coalition partners across the state. Prior to Wednesday’s vote, AB 1000 had been narrowed in scope to Riverside and San Bernardino Counties – two areas with high levels of industrial development activity. Members of the committee voiced concerns about how this bill could lead to a one-size-fits-all mandate that would usurp local control as well as cause job loss within the logistics industry.
In addition, AB 1748 is still pending approval which seeks establish a 300 foot setback requirement for Inland Empire industrial developments larger than 400 thousand square feet; it was unanimously approved by said committee during its review process thus far. Industry leaders like TruAmerica Multifamily President & CEO Bob Hart will be present at an upcoming event discussing further topics related CRE investments in Los Angeles on May 3rd at Hotel Indigo .
