{"id":1004114910,"date":"2015-03-06T07:18:54","date_gmt":"2015-03-06T15:18:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004114910"},"modified":"2022-03-03T05:47:23","modified_gmt":"2022-03-03T13:47:23","slug":"market-snapshot-i-love-la","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/","title":{"rendered":"Market Snapshot: I Love LA!"},"content":{"rendered":"<p><i>By Alex Girda, Associate Editor<\/i><\/p>\n<div id=\"attachment_100411\" style=\"width: 250px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-100411\" data-attachment-id=\"1004114911\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/office-supply-demand-los-angeles\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg\" data-orig-size=\"403,271\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Office Supply Demand Los Angeles\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg?w=403\" class=\" wp-image-1004114911 \" title=\"Los Angeles Office Market - Supply and Demand Outlook 2015\" alt=\"Los Angeles Office Market - Supply and Demand Outlook 2015\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg\" width=\"240\" height=\"161\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg 403w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg?resize=300,202 300w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/a><p id=\"caption-attachment-100411\" class=\"wp-caption-text\">Los Angeles Office Market &#8211; Supply and Demand Outlook 2015<\/p><\/div>\n<p>In a recent market report Marcus &amp; Millichap analysts estimate that, in 2015, Los Angeles will add to the wave of U.S cities that have recovered from the economic downturn. Asking rents for office space set to record five years of growth, vacancy rates finally going under 15 percent and employment driving further growth for the market are the combined factors that will power Los Angeles\u2019 post-recession economy.<\/p>\n<p>In terms of employment, Los Angeles will gain a 2.5 percent increase in payroll, which translates into 104,000 new jobs\u2014around 41,000 of which will be office-using employment, an almost 4 percent jump according to Marcus &amp; Millichap.<\/p>\n<p>Developers are set to add around 2.4 million square feet of office space in Los Angeles in 2015, triple the amount of new inventory added to the market in 2014. The Los Angeles office market is ranked 14<sup>th<\/sup> in Marcus &amp; Millichap\u2019s National Office Property Index for 2015, down nine places compared to last year. The real estate company docked the market points due to a surge in speculative construction.<\/p>\n<p>Although a large amount of space will come online on the market, leasing is expected to be strong in the Los Angeles area, with the average vacancy rate set to dip by about 90 basis points. According to Marcus &amp; Millichap\u2019s market forecast, 2015 will see the average vacancy rate stand at around 14.2 percent.<\/p>\n<p>In 2014, properties in Los Angeles were acquired for an average per-square foot rate of $262, an increase of just one percent compared to the previous 12 months. Cap rates stood in the low-6 percent range, with the downtown area and West L.A. clocking in first-year returns closer to the 5 percent rate.<\/p>\n<p>&nbsp;<\/p>\n<p><em>Chart courtesy of <a title=\"Marcus &amp; Millichap\" href=\"https:\/\/www.marcusmillichap.com\/research\" rel=\"nofollow noopener\" target=\"_blank\">Marcus &amp; Millichap<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Los Angeles office market has boldly gone where it&#8217;s never gone before. <\/p>\n","protected":false},"author":41,"featured_media":1004114911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[39453],"class_list":["post-1004114910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-los-angeles"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Market Snapshot: I Love LA! - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Snapshot: I Love LA!\" \/>\n<meta property=\"og:description\" content=\"The Los Angeles office market has boldly gone where it&#039;s never gone before.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-06T15:18:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T13:47:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"403\" \/>\n\t<meta property=\"og:image:height\" content=\"271\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"Market Snapshot: I Love LA!\",\"datePublished\":\"2015-03-06T15:18:54+00:00\",\"dateModified\":\"2022-03-03T13:47:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/\"},\"wordCount\":304,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/03\\\/Office-Supply-Demand-Los-Angeles.jpg\",\"keywords\":[\"Los Angeles\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/\",\"name\":\"Market Snapshot: I Love LA! - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/03\\\/Office-Supply-Demand-Los-Angeles.jpg\",\"datePublished\":\"2015-03-06T15:18:54+00:00\",\"dateModified\":\"2022-03-03T13:47:23+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/03\\\/Office-Supply-Demand-Los-Angeles.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/03\\\/Office-Supply-Demand-Los-Angeles.jpg\",\"width\":403,\"height\":271},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-i-love-la\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Market Snapshot: I Love LA!\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\",\"name\":\"Alex Girda\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Alex-Girda.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Alex-Girda.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Alex-Girda.jpg?w=96\",\"caption\":\"Alex Girda\"},\"description\":\"Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/alex-girda\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Market Snapshot: I Love LA! - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/","og_locale":"en_US","og_type":"article","og_title":"Market Snapshot: I Love LA!","og_description":"The Los Angeles office market has boldly gone where it's never gone before.","og_url":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-03-06T15:18:54+00:00","article_modified_time":"2022-03-03T13:47:23+00:00","og_image":[{"width":403,"height":271,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg","type":"image\/jpeg"}],"author":"Alex Girda","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/"},"author":{"name":"Alex Girda","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c"},"headline":"Market Snapshot: I Love LA!","datePublished":"2015-03-06T15:18:54+00:00","dateModified":"2022-03-03T13:47:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/"},"wordCount":304,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg","keywords":["Los Angeles"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/","url":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/","name":"Market Snapshot: I Love LA! - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg","datePublished":"2015-03-06T15:18:54+00:00","dateModified":"2022-03-03T13:47:23+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg","width":403,"height":271},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-i-love-la\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Market Snapshot: I Love LA!"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c","name":"Alex Girda","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","caption":"Alex Girda"},"description":"Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.","url":"https:\/\/www.commercialsearch.com\/news\/author\/alex-girda\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Office-Supply-Demand-Los-Angeles.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004114910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004114910"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004114910\/revisions"}],"predecessor-version":[{"id":1004570011,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004114910\/revisions\/1004570011"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004114911"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004114910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004114910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004114910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}