Los Angeles office market report
Q3 2025
Greater Los Angeles office demand solidified in Q3 2025, with leasing activity rising to 3.62 msf. Although still slowly recovering, the market has seen a positive sign in Q3 with 612k sf. Despite this positive demand, the total availability rate edged up to 24.7%, reflecting the large volume of secondary space being returned to the market. Average asking rents saw a marginal adjustment to $43.72 psf. The combination of robust leasing and positive absorption, even amid high availability, indicates the market is beginning to stabilize as tenants commit to new long-term strategies.
Net absorption
Greater Los Angeles office net absorption posted an uptick of 612k sf in Q3 2025, underscoring sustained leasing velocity and a tangible recovery in demand.
Asking rents
The average FS asking rent in Los Angeles saw a modest decline of $0.13 from the prior quarter, settling at $43.72.
Availabilities
In Q3, LA’s total availability rate edged up to 24.7%, a minimal increase of just 10 bps from the last quarter. This reflects a market still grappling with tenant right-sizing.
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