May 11, 2015
Vacancy rates for the office sector of commercial real estate in Los Angeles didn’t go down dramatically during the first quarter, but there was some year-over-year improvement, according to three research reports by some of the biggest commercial real estate services firms in the country.
DTZ had vacancy coming in at 15 percent, and increase from the 15.3 percent during the same year-ago period. The firm noted that 22 of the 41 markets that it covers around the metro area saw occupancy improvements during the period. It also noted 3.7 million square feet of deals during Q1.
JLL, meanwhile, had direct vacancy coming in the Greater Los Angeles area, around 15.5 percent, depending on the submarket.
Newmark Grubb Knight Frank’s data was similar to DTZ, and the firm made the observation that that there have been seven straight quarters of positive net absorption, with 3.2 million square feet of space taken up.