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Los Angeles Market Reports

Los Angeles Office Market

Average Asking Rent (Price/SF/Mo) $3.30
Vacancy Rate (%) 14.9%
Net Absorption (SF) -171,913

Netflix is reportedly in advanced negotiations to pre-lease The Academy on Vine (342,365 square feet) and Epic (327,914 square feet) developments in Hollywood. This will give the company 1.1 million square feet in the micro-market. Google, meanwhile, will commit to 500,000 square feet at the Westside Pavilion. An office renovation at the ailing shopping mall had been as announced in March, but the property never formally went onto the market after Google went straight to lease. This space is in addition to Google's occupancy of 319,000 square feet in Playa Vista by year-end.

Los Angeles Industrial Market

Average Asking Rent (Price/SF/Mo) $0.79
Vacancy Rate (%) 1.2%
Net Absorption (SF) 1,873,558

The trucking industry faces serious capacity constraints amid record-high freight volumes and a driver shortage. According to an August 2018 Wall Street Journal article, third-party hauling rates are at record levels, up 26.0% from the prior year. This is causing many companies, such as Kraft Heinz Co. and Coca-Cola, to raise prices to offset higher freight costs.

Los Angeles Office Market Report
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Los Angeles Industrial Market Report
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