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Los Angeles Market Reports

Los Angeles Office Market

Average Asking Rent (Price/SF/Mo) $3.35
Vacancy Rate (%) 14.2%
Net Absorption (SF)  382,296

Large media tenants showed no signs of slowing down this quarter given leasing activity and the tenants that are shopping the market. For instance, Netflix signed three leases totaling 163,772 square feet at the Hollywood Creative and Vine Studios. The company is now poised to occupy 1.3 million square feet in Hollywood.

Los Angeles Industrial Market

Average Asking Rent (Price/SF/Mo) $0.86
Vacancy Rate (%) 1.1%
Net Absorption (SF) 1,178,470

Sales totaled nearly $4.1 billion in 2018, the most robust year in volume since 2015, according to data from Real Capital Analytics. This is somewhat contrarian from a numerical perspective, as the average sold price of $170/SF is 44.1% higher than last cycle's peak (reached in late 2007), while the average cap rate is 4.7%, a record low. Additionally, commercial real estate cycles every 10 years on average-and 2019 is the 10th year of this cycle. Prices are rich, yields are lower than in 2015, and talk about when the economy will cool is becoming more prevalent in the media; under these circumstances, many would expect a reduction in sales volume. Yet this is clearly not the case. So, what is the story behind the numbers?

Los Angeles Office Market Report
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Los Angeles Industrial Market Report
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