Los Angeles Office Market
| Average Asking Rent (Price/SF/Mo) | $3.67 |
| Vacancy Rate (%) | 19.4% |
| Net Absorption (SF) | 592,952 |
While other sectors of the economy struggle during the pandemic, entertainment companies, driven by increased consumer demand for content, are leading the recovery in Los Angeles, particularly on the Westside.
Download Los Angeles Office Market Report 4Q21Los Angeles Industrial Market
| Average Asking Rent (Price/SF/Mo) | $1.09 |
| Vacancy Rate (%) | 1.1% |
| Net Absorption (SF) | 2.9M |
Only 25.3 million square feet in new ground-up construction was built over the past five years, representing 0.2% of existing inventory. While moderate construction is not uncommon for a highly mature and predominantly infill market, demand for modern final-mile facilities remains pronounced. This trend, which was present well before the pandemic, was only super charged by social distancing measures and increasing adoption of e-commerce shopping by young and old consumers alike.