{"id":1004589471,"date":"2022-07-12T02:59:57","date_gmt":"2022-07-12T10:59:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004589471"},"modified":"2022-12-08T21:47:00","modified_gmt":"2022-12-09T05:47:00","slug":"la-office-investment-activity-stays-strong","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/la-office-investment-activity-stays-strong\/","title":{"rendered":"LA Office Investment Activity Stays Strong"},"content":{"rendered":"

\"\"<\/a>In May, office investment activity in metro Los Angeles continued at a healthy rate. The metro saw 450,793 square feet of space change hands, for a total of $274 million, according to CommercialEdge<\/strong> data. May was on par with the previous month, when $276 million in sales was recorded.<\/p>\n

Investors focused on value-add plays, as all properties that traded in May were stabilized assets, offering a mix of Class A and B office space. Nine sales were recorded, four of which were in secondary urban locations, three in primary urban submarkets, and two in suburban areas.<\/p>\n

The two largest transactions of the month involved medical office buildings. After spending $600 million in Phoenix<\/a> the previous month, Harrison Street<\/strong> acquired two properties in Los Angeles submarkets\u2014it purchased 9090 Wilshire Blvd. in Beverly Hills for $97.8 million, and 2825 Santa Monica Blvd. in Santa Monica, for $58.6 million. Both assets were sold by The Carlyle Group<\/strong>.<\/p>\n

Los Angeles remained a top metro for office investment activity. Over the first five months of the year, a total of $1.9 billion were generated\u2014placing third after Manhattan ($2.1 billion) and Seattle ($2.2 billion). The amount is double what was recorded over the same period last year ($951 million).<\/p>\n

In Los Angeles, prices went up by 77 percent, to $485 per square foot as of May. Nationwide, the price for office properties decreased from $287 per square foot in May 2021, to $274 this year.<\/p>\n

CommercialEdge<\/em><\/a>\u00a0covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report\u00a0<\/em>here<\/em><\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Year-to-date through May, office investment activity in Los Angeles was one of the most heightened in the nation.<\/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":[21783,1594,21747,15],"tags":[51047,50674],"class_list":["post-1004589471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-los-angeles","category-office","category-west","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"\nLA Office Investment Activity Stays Strong<\/title>\n<meta name=\"description\" content=\"Los Angeles remains a top metro for office investment, with nearly $2 billion recorded in sales over the first five months.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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