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Jul 22, 2024 · The Los Angeles office market total availability rate increased to 28.5% due to additional sublease space on the market. Direct availability remained unchanged over the quarter, while sublease availability reached a record 5.1%. Much of the sublease space added was in West Los Angeles and South Bay.
Jun 1, 2023 · As of Q1 2023, available sublease office space in LA has increased by 190% and currently makes up 17% of available space in the market. Vacant sublease space now makes up nearly 11% of total vacant office space in LA. Here’s an overview of the key trends we’re seeing.
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small-to-midsize buildings by creating state-of-the-art office developments with the latest generation of space, hoping to secure office tenants in smaller or suburban office projects. ECONOMIC REVIEW The Los Angeles office market is anticipated to continue as a major commercial hub in 2024
- MARKET DRIVERS
- ECONOMIC REVIEW
- NEAR-TERM OUTLOOK
THE LOS ANGELES OFFICE MARKET exudes the impression of unpredictability and instability. While vacancy rates have remained constant, the availability of sublease space has proliferated. Although tenants are hesitant to sign leases, businesses have made it known that they want the newest-generation space. Certain metro areas have performed relativel...
ECONOMIC FACTORS on the Los Angeles office market varied depending on the submarket. The West Los Angeles submarket has shown some resilience, with vacancy rates remaining relatively low with stable asking rents. However, other submarkets were more adversely affected by economic considerations, with rising vacancy rates and declining asking rents. ...
DUE TO ITS INNOVATIVE solid culture and entrepreneurial spirit, Los Angeles has a higher rate of self-employment and startup activity despite having an established economy and a significant share of the major national industries. THE NEAR-TERM OUTLOOK for the Los Angeles office market is still undetermined. Nevertheless, the industry may benefit fr...
Jan 2, 2024 · The 441,000-square-foot complex at 400 and 450 North Brand Boulevard is 92 percent leased right now, but one of the largest tenants is not planning to renew once its lease is up in April. “It’s...
Apr 2, 2024 · Despite an uptick in office leasing across greater Los Angeles, office availability has hit an all-time high, with landlords facing a sharp decline in office property values.
