Los Angeles Office Market
| Average Asking Rent (Price/SF/Mo) | $3.68 |
| Vacancy Rate (%) | 17.3% |
| Net Absorption (SF) | -1,170,778 |
El Segundo had a reputation as a growth market prior to the pandemic and, as evidenced by leasing activity in early 2021, will continue to net tenants. New leases include Beyond Meat (281,110 square feet) and L’Oréal (68,722 square feet) at 888 North Douglas Street, along with Belkin (65,442 square feet) at 555 Aviation Boulevard.
Download Los Angeles Office Market Report 1Q21Los Angeles Industrial Market
| Average Asking Rent (Price/SF/Mo) | $0.92 |
| Vacancy Rate (%) | 1.6% |
| Net Absorption (SF) | 290,850 |
The pandemic severely impacted global supply chains this time last year as China, dealing with its outbreak, was unable to satisfy factory orders. This began to change in May as China’s economy progressively reopened and a backlog of imports began to flood the United States. To compound matters, domestic buying habits have changed as many Americans telework; clothing is out, while electronics, fitness equipment and home improvement products are in demand.