Los Angeles Office Market Report (Q4 2020)25 Jan 2021
Demand ground to a halt for 2020 due to Covid-19; however, 4Q might hint at pockets of activity.
Even with overall muted Los Angeles office demand for 2020 there were some hints of activity during fourth quarter. Biotech and the Life Sciences continue to expand in Los Angeles. Net absorption was positive on Bunker Hill and in the Financial District and the vacancy rate for overall Downtown LA decreased from 19.1% third quarter to 19.0% fourth quarter.
- 10.6% Los Angeles County Unemployment Rate as of November 2020
- (6,613,895) SF Year to Date Negative Net Absorption
- 16.3% Total Vacancy Rate increased from Q3 2020
- $3.32 psf Weighted FSG Average