{"id":1004546917,"date":"2021-05-11T04:50:00","date_gmt":"2021-05-11T12:50:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004546917"},"modified":"2022-12-07T13:24:56","modified_gmt":"2022-12-07T21:24:56","slug":"los-angeles-market-update-slow-to-recover","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/","title":{"rendered":"Los Angeles Market Update: Slow to Recover"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004546923\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/marketzupdatez\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/MarketzUpdatez.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Patricia Todoran&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1497549143&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;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Market Update\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/MarketzUpdatez.jpg?w=800\" class=\"alignright wp-image-1004546923 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/MarketzUpdatez.jpg?w=300\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/MarketzUpdatez.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/MarketzUpdatez.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/MarketzUpdatez.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>In March, a single major office property transaction closed in Los Angeles, according to CommercialEdge. The $74.4 million is a 44 percent decrease from February, when five properties traded hands and generated $133 million in sales activity. January was the most active so far this year, with $345 million in recorded sales.<\/p>\n<p>Despite the sluggish activity for 2021, transacted volume in March is a 165 percent increase year-over-year. In March 2020, two properties changed hands, generating $28 million in recorded sales. Overall, prices in the market have slightly risen since 2020, reaching $420 per-square foot year-to-date, closer to the 2019 average of $427.<\/p>\n<p>The medical office asset at 9033 Wilshire Blvd. in Beverly Hills was <a href=\"https:\/\/www.cpexecutive.com\/post\/lasalle-investment-pays-74m-for-beverly-hills-mob\/\">sold by UBS Realty Investors for $74.4 million<\/a>. LaSalle Investment sold the 49,721-square-foot property after a six-year ownership period. The Class A asset, named Archway Medical Plaza, is anchored by University of Southern California\u2019s Keck Medical Center, and features a surgery center as well as a full-service pharmacy. The property traded for $1,496 per square foot, well above the national average ($286 per square foot year-to-date).<\/p>\n<p><em>CommercialEdge covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report\u00a0<a href=\"https:\/\/www.commercialedge.com\/blog\/u-s-office-lease-rates-inch-upward-vacancy-still-in-double-digits\/\">here<\/a>. We included properties of 25,000+ square feet in our research.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although prices show signs of recovery, few properties traded during the first quarter.<\/p>\n","protected":false},"author":1284,"featured_media":1004543560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742,21747,15],"tags":[51047,50674],"class_list":["post-1004546917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-los-angeles","category-latest","category-office","category-west","tag-marketupdate","tag-commercialedge"],"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>Los Angeles Market Update: Slow to Recover - 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\/los-angeles-market-update-slow-to-recover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Los Angeles Market Update: Slow to Recover\" \/>\n<meta property=\"og:description\" content=\"Although prices show signs of recovery, few properties traded during the first quarter.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/\" \/>\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=\"2021-05-11T12:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T21:24:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-800x620-24.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\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\\\/los-angeles-market-update-slow-to-recover\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/\"},\"author\":{\"name\":\"Tudor Scolca\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"headline\":\"Los Angeles Market Update: Slow to Recover\",\"datePublished\":\"2021-05-11T12:50:00+00:00\",\"dateModified\":\"2022-12-07T21:24:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/\"},\"wordCount\":200,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/Market-Update-800x620-24.jpg\",\"keywords\":[\"#MarketUpdate\",\"CommercialEdge\"],\"articleSection\":[\"Los Angeles\",\"News\",\"Office\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/\",\"name\":\"Los Angeles Market Update: Slow to Recover - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/Market-Update-800x620-24.jpg\",\"datePublished\":\"2021-05-11T12:50:00+00:00\",\"dateModified\":\"2022-12-07T21:24:56+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/Market-Update-800x620-24.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/Market-Update-800x620-24.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-slow-to-recover\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Los Angeles Market Update: Slow to Recover\"}]},{\"@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\\\/daae3daa7b99fdfb75a85cb3cd92a26d\",\"name\":\"Tudor Scolca\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/02\\\/TudorScolca_AuthorBio.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/02\\\/TudorScolca_AuthorBio.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/02\\\/TudorScolca_AuthorBio.jpg?w=96\",\"caption\":\"Tudor Scolca\"},\"description\":\"Tudor Scolca-Seu\u0219an is an Associate Editor with Commercial Property Executive and Multi-Housing News. He joined CPE and MHN in 2017 and is passionate about doing research for the two publications. He is responsible for data center and industrial coverage on CPE, writing seasonal metro reports on multifamily, interviews and features, as well as occasionally editing news stories.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/tudor-scolca\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Los Angeles Market Update: Slow to Recover - 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\/los-angeles-market-update-slow-to-recover\/","og_locale":"en_US","og_type":"article","og_title":"Los Angeles Market Update: Slow to Recover","og_description":"Although prices show signs of recovery, few properties traded during the first quarter.","og_url":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-05-11T12:50:00+00:00","article_modified_time":"2022-12-07T21:24:56+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-800x620-24.jpg","type":"image\/jpeg"}],"author":"Tudor Scolca","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\/los-angeles-market-update-slow-to-recover\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/"},"author":{"name":"Tudor Scolca","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d"},"headline":"Los Angeles Market Update: Slow to Recover","datePublished":"2021-05-11T12:50:00+00:00","dateModified":"2022-12-07T21:24:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/"},"wordCount":200,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-800x620-24.jpg","keywords":["#MarketUpdate","CommercialEdge"],"articleSection":["Los Angeles","News","Office","West"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/","url":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/","name":"Los Angeles Market Update: Slow to Recover - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-800x620-24.jpg","datePublished":"2021-05-11T12:50:00+00:00","dateModified":"2022-12-07T21:24:56+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-800x620-24.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-800x620-24.jpg","width":800,"height":620},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-slow-to-recover\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Los Angeles Market Update: Slow to Recover"}]},{"@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\/daae3daa7b99fdfb75a85cb3cd92a26d","name":"Tudor Scolca","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96","caption":"Tudor Scolca"},"description":"Tudor Scolca-Seu\u0219an is an Associate Editor with Commercial Property Executive and Multi-Housing News. He joined CPE and MHN in 2017 and is passionate about doing research for the two publications. He is responsible for data center and industrial coverage on CPE, writing seasonal metro reports on multifamily, interviews and features, as well as occasionally editing news stories.","url":"https:\/\/www.commercialsearch.com\/news\/author\/tudor-scolca\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-800x620-24.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004546917","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\/1284"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004546917"}],"version-history":[{"count":5,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004546917\/revisions"}],"predecessor-version":[{"id":1004546924,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004546917\/revisions\/1004546924"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004543560"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004546917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004546917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004546917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}