{"id":1004551157,"date":"2021-09-30T03:12:21","date_gmt":"2021-09-30T11:12:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004551157"},"modified":"2022-12-04T15:34:34","modified_gmt":"2022-12-04T23:34:34","slug":"los-angeles-market-update-vacancy-increases-to-q1-levels","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-vacancy-increases-to-q1-levels\/","title":{"rendered":"Los Angeles Market Update: Vacancy Increases to Q1 Level"},"content":{"rendered":"

\"\"<\/a>In August, office vacancy in metro Los Angeles continued its rough-and-tumble trajectory, increasing by 50 basis points month-over-month to 13.5 percent, CommecialEdge data shows. The metro is still below the national average (at 15.4 percent) and is closing in on the figure recorded in January (13.6 percent). Year-over-year, vacancy is up by 660 basis points, with some uncertainty still ahead for urban core properties.<\/p>\n

Los Angeles\u2019 entertainment sector remains a solid driver for activity, creating demand for production and creative office space. Compared to other gateway markets, Los Angeles maintains its second spot behind Manhattan\u2014which recorded 10.8 percent vacancy in August. Chicago had the highest vacancy at 16.9 percent, and San Francisco\u2019s reached 15.4 percent.<\/p>\n

The office landscape continues to shift from the pandemic\u2019s effects. As is the case with similar markets, suburban areas continue to be favored across the metro. In Burbank, for example, BMK Capital signed three tenants<\/a> at its Backlot Burbank property. The submarket\u2019s office vacancy reached 6.4 percent in August.<\/p>\n

In August, office vacancy remained relatively unchanged in urban submarkets, such as the metro\u2019s CBD (at 14.7 percent) or Hollywood (at 13.6 percent). Drops in vacancy were recorded in the Wilshire Corridor (down 140 basis points, to 10.0 percent) and West Los Angeles (down 80 basis points, to 13.1 percent) submarkets, among a few others.<\/p>\n

CommercialEdge covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report here.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Office leasing activity remains low, with most submarkets recording small changes in vacancy.<\/p>\n","protected":false},"author":1284,"featured_media":1004545005,"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-1004551157","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":"\nLos Angeles Market Update: Vacancy Increases to Q1 Level - 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-vacancy-increases-to-q1-levels\/\" \/>\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: Vacancy Increases to Q1 Level\" \/>\n<meta property=\"og:description\" content=\"Office leasing activity remains low, with most submarkets recording small changes in vacancy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/los-angeles-market-update-vacancy-increases-to-q1-levels\/\" \/>\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=\"2021-09-30T11:12:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T23:34:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"930\" \/>\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-vacancy-increases-to-q1-levels\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-vacancy-increases-to-q1-levels\\\/\"},\"author\":{\"name\":\"Tudor Scolca\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"headline\":\"Los Angeles Market Update: Vacancy Increases to Q1 Level\",\"datePublished\":\"2021-09-30T11:12:21+00:00\",\"dateModified\":\"2022-12-04T23:34:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-vacancy-increases-to-q1-levels\\\/\"},\"wordCount\":236,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-vacancy-increases-to-q1-levels\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/Market-Update-resized.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-vacancy-increases-to-q1-levels\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/los-angeles-market-update-vacancy-increases-to-q1-levels\\\/\",\"name\":\"Los Angeles Market Update: Vacancy Increases to Q1 Level - 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