Reavis Realty began in 1966, at a time when rents for new buildings
were less than 10 cents per square foot, leases were typed in quadruplicate,
and offers/counteroffers were hand-carried, not faxed. Cerritos, at
the time called "Dairy Valley," housed thousands of cattle awaiting
shipment to Vernon for processing. The newly formed City of Industry
was more wishful thinking than reality.
We saw the decline of manufacturing in the Los Angeles basin, with the closing of Bethlehem Steel and other established manufacturing names. Los Angeles began a slow transition, becoming a hub for high tech businesses and strong specialized industries. It also emerged as a major U.S. distribution center, and has now taken its place as gateway to the Pacific Rim.
Reavis Realty was not a passive observer during this period of change and growth, but actively participated – serving its clients by keeping abreast of shifts in the marketplace, new governmental regulations, and new marketing techniques and ideas, constantly renewing and adding to its knowledge and expertise.
Reavis Realty continues to be a successful leader in the Los Angeles
industrial real estate market.
We strive to stay one step ahead of our competition. Computers, faxes, E-mail, cell phones and pagers allow us to always be available to our clients. Our marketing programs, under constant review and improvement, are unparalleled in our industry. Associate business attorneys are multilingual in English, Chinese, Korean, Japanese, and Spanish, allowing us to better serve the changing face of Los Angeles.
But we have never lost sight of the importance of personal service.
Whether analyzing the value of a property, the potential market
for a property, or the needs of the manufacturer or warehousing
company, we are first and foremost in the business of helping
people achieve a real estate goal.
We are also active participants in the business community and professional associations. Philip Reavis, the President of Reavis Realty, has served as the President of the Vernon Chamber of Commerce and Vernon Kiwanis Club as well as on the Board of Directors of the American Industrial Real Estate Association.
During the past recession, the vacancy rate for industrial property
in the Los Angeles area varied from 12% to 18% (even higher in some
areas). The vacancy factor for the industrial developments we represent,
totaling more than one million square feet, averaged less than 3%
during the entire recession.