February 27, 2017 Comments Off on LA Office Investment Hits 10-Year High Views: 551 California News, Top California Stories

LA Office Investment Hits 10-Year High

Increased sales activity in 2016 pushed the Los Angeles market into rarefied air. Last year’s $9.6 billion in investment broke a 10-year total sales volume record, according to a joint study from Yardi Matrix and CommercialCafé.

Acquisitions were on an upslope since 2012, and though a slight restraint on cash flow ventures occurred in 2015, the market came back up for a hefty gulp of fresh investments in 2016.

Other key report findings of include:

  • The priciest office deal of $1.3 billion went to Douglas Emmett in joint venture with QIA for a Class A, four-building complex on Wilshire Blvd.
  • 2016’s heavy-hitter was Blackstone, with $2.9 billion in traded assets, three of which were through affiliate Equity Office.
  • Prices per-square-foot surged more than 39% in 2016, reaching a five-year spike with an average rate of $430 per square foot.

Read more at CommercialCafé

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