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Los Angeles Market Reports

Los Angeles Office Market

Average Asking Rent (Price/SF/Mo) $3.53
Vacancy Rate (%) 14.0%
Net Absorption (SF) 291,595

Peak market conditions abounded this quarter, with technology and media companies leading in space requirements amid record-high rents. A low unemployment rate once again fueled occupier appetites for modern office space to attract and retain talent, as companies built scale. A great deal of this was supported by venture capital funding, which invested $7.8 billion in the metro in 2019-a new record. New funding allows companies to expand their workforces and their subsequent real estate occupancies. During the quarter, there was a moderate amount of new supply available to support active tenant demand.

Los Angeles Industrial Market

Average Asking Rent (Price/SF/Mo) $0.88
Vacancy Rate (%) 1.3%
Net Absorption (SF) 1,602,268

New supply continues to drive fundamentals in a market where the average building is 49 years old, and functional obsolescence is often an issue for tenants with space requirements. This year, for instance, 2.1 million square feet in absorption gains were recorded from the occupancies of facilities built over the last 24 months.

Los Angeles Office Market Report
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Los Angeles Industrial Market Report
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