Los Angeles Office Market
| Average Asking Rent (Price/SF/Mo) | $3.67 |
| Vacancy Rate (%) | 16.5% |
| Net Absorption (SF) | -1,363,093 |
Asking rent has yet to soften and remains high. Many landlords are reluctant to devalue their buildings, knowing a recovery is on the horizon.
Download Los Angeles Office Market Report 4Q20Los Angeles Industrial Market
| Average Asking Rent (Price/SF/Mo) | $0.89 |
| Vacancy Rate (%) | 1.9% |
| Net Absorption (SF) | 3,001,417 |
Net absorption was negative in the first half of the year when Forever 21, after filing for Chapter 11 bankruptcy protection in 2019, shed 1.5 million square feet in Central. Two former Boeing Co. facilities, totaling 1.3 million square feet, followed in South Bay. Both move-outs occurred during the early days of the pandemic, when, generally speaking, many tenants briefly hit the pause button on their expansion plans to assess the new environment.
Download Los Angeles Industrial Market Report 4Q20