First Quarter: Real Estate.
First Quarter: Real Estate
Los Angeles County Office Market, First
Quarter 2001
Vacancy Rate
Total Vacant Space 1st Qtr.
Market/Submarket Inventory (square ft.) 2001
Downtown L.A. 32,102,700 6,510,444 20.3%
Wilshire Center 7,300,405 1,204,713 16.5%
Central L.A. 39,403,105 7,715,157 19.6%
San Gabriel Valley 9,037,212 1,222,293 13.5%
Burbank 3,789,928 291,087 7.7%
Glendale 6,066,195 844,427 13.9%
Pasadena 6,059,549 460,633 7.6%
Tri-Cities 15,915,672 1,596,147 10.0%
Beverly Hills 5,329,236 559,103 10.5%
Brentwbod 3,366,878 203,073 6.0%
Century City 9,000,887 470,382 5.2%
Hollywood/WeHo 2,742,917 332,573 12.1%
Marina/Culver City 4,769,687 257,841 5.4%
Miracle/Park Mile 5,445,167 614,170 11.3%
Santa Monica 7,497,592 600,728 8.0%
West Los Angeles 5,345,770 607,709 11.4%
Westwood 2,867,710 423,907 14.8%
West L.A. 46,365,844 4,069,486 8.8%
Central Valley 7,712,076 701,870 9.1%
Coastal Plain 168,092 60,589 36.0%
Conejo Valley 3,780,964 516,731 13.7%
East Valley 2,693,952 405,652 15.1%
Santa Clarita Valley 1,285,350 363,713 28.3%
West Valley 8,194,709 843,073 10.3%
San Fernando Valley 23,835,143 2,891,628 12.1%
LAX/Century Blvd. 4,080,481 1,040,654 25.5%
El Segundo/Beach Cities 9,910,700 900,337 9.1%
190th Street Corridor 3,156,628 257,187 8.1%
Torrance Central 3,375,870 394,465 11.7%
Carson 1,293,095 179,006 13.8%
Long Beach Suburban 4,559,671 417,534 9.2%
Long Beach Downtown 4,090,104 589,420 14.4%
South Bay 30,466,549 3,778,603 12.4%
L.A. County 165,023,525 21,273,314 12.9%
Under
4th Qtr. 1st Qtr. Construction
Market/Submarket 2000 2000 (square ft.)
Downtown L.A. 21.4% 20.4% 0
Wilshire Center 16.3% 20.5% 0
Central L.A. 18.9% 20.5% 0
San Gabriel Valley 15.7% 20.3% 212,633
Burbank 3.9% 5.8% 445,000
Glendale 11.7% 16.2% 0
Pasadena 5.9% 5.3% 0
Tri-Cities 7.6% 9.6% 445,000
Beverly Hills 9.7% 8.7% 120,000
Brentwbod 4.6% 5.0% 0
Century City 3.9% 5.1% 0
Hollywood/WeHo 11.4% 9.6% 0
Marina/CulverCity 6.5% 4.5% 683,000
Miracle/Park Mile 12.4% 10.1% 0
Santa Monica 8.0% 0.6% 91,400
West Los Angeles 8.3% 4.0% 150,000
Westwood 12.0% 17.6%
West L.A. 8.0% 6.3% 1,044,400
Central Valley 7.5% 9.4% 0
Coastal Plain 34.9% 16.2% 0
Conejo Valley 9.7% 6.3% 416,861
East Valley 8.4% 10.1% 0
Santa Clarita Valley 29.8% 35.1% 255,000
West Valley 9.6% 9.6% 566,432
San Fernando Valley 10.1% 10.7% 1,238,293
LAX/Century Blvd. 22.2% 28.6% 0
El Segundo/Beach Cities 4.8% 12.0% 404,000
190th Street Corridor 9.1% 11.4% 0
Torrance Central 11.4% 17.0% 0
Carson 17.4% 13.7% 0
Long Beach Suburban 10.1% 14.9% 0
Long Beach Downtown 14.0% 12.6% 0
South Bay 10.9% 15.3% 404,000
L.A. County 11.9% 13.8% 3,344,326
Net Absorption (square ft.) [1]
1st Qtr. 4th Qtr.
Market/Submarket 2001 2000
Downtown L.A. 350,417 323,675
Wilshire Center (11,485) 116,028
Central L.A. 338,932 439,703
San Gabriel Valley 193,041 205,744
Burbank (49,417) (44,300)
Glendale (139,140) 108,316
Pasadena (103,755) 35,954
Tri-Cities (292,312) 99,970
Beverly Hills (40,798) 5,738
Brentwbod (47,673) 8,230
Century City (120,986) (43,671)
Hollywood/WeHo (19,163) 7,107
Marina/CulverCity 49,238 (52,175)
Miracle/Park Mile 85,715 (148,039)
Santa Monica 11,376 (17,951)
West Los Angeles (164,678) (72,052)
Westwood (80,886) (87,513)
West L.A. (327,855) (400,326)
Central Valley (116,031) 104,500
Coastal Plain (1,867) (12,704)
Conejo Valley 91,379 182,926
East Valley (155,193) 65,312
Santa Clarita Valley 19,543 43,578
West Valley (89,248) 138,266
San Fernando Valley (251,417) 521,878
LAX/Century Blvd. (134,072) 92,556
El Segundo/Beach Cities (201,333) 47,033
190th Street Corridor 31,499 (1,556)
Torrance Central (11,179) 41,110
Carson 45,886 4,416
Long Beach Suburban 40,982 102,221
Long Beach Downtown (15,182) (16,298)
South Bay (243,399) 269,482
L.A. County (583,010) 1,136,451
Class-A Asking Rent [2]
1st Qtr. 1st Qtr. 4th Qtr.
Market/Submarket 2000 2001 2000
Downtown L.A. 69,847 $2.13 $2.28
Wilshire Center 49,328 $1.35 $1.35
Central L.A. 119,175 $2.04 $2.17
San Gabriel Valley 247,849 $1.99 $1.97
Burbank 5,021 $2.62 $2.77
Glendale 38,421 $2.41 $2.29
Pasadena 19,690 $2.41 $2.47
Tri-Cities 63,132 $2.44 $2.41
Beverly Hills 64,005 $3.27 $3.18
Brentwbod 54,411 $3.24 $3.38
Century City 81,111 $3.34 $3.32
Hollywood/WeHo 89,728 $2.50 $2.55
Marina/CulverCity 71,115 $2.72 $2.55
Miracle/Park Mile 142,710 $2.45 $2.44
Santa Monica 113,629 $3.89 $3.81
West Los Angeles 144,312 $3.34 $3.04
Westwood (46,101) $6.61 $3.74
West L.A. 714,920 $3.21 $3.14
Central Valley 15,968 $2.07 $2.07
Coastal Plain (8,670)
Conejo Valley 161,142 $2.31 $2.31
East Valley (30,399) $2.64 $2.54
Santa Clarita Valley 36,680 $1.95 $1.89
West Valley (1,715) $2.52 $2.48
San Fernando Valley 173,006 $2.30 $2.28
LAX/Century Blvd. 116,756 $1.62 $1.65
El Segundo/Beach Cities 186,623 $2.85 $2.84
190th Street Corridor 17,081 $2.05 $2.05
Torrance Central (160,427) $2.18 $2.16
Carson 28,468 $1.90 $1.90
Long Beach Suburban 36,757 $2.46 $2.45
Long Beach Downtown 30,340 $2.12 $2.10
South Bay 255,598 $2.32 $2.32
L.A. County 1,573,680 $2.38 $2.38
1st Qtr.
Market/Submarket 2000
Downtown L.A. $2.21
Wilshire Center $1.28
Central L.A. $2.07
San Gabriel Valley $1.78
Burbank $2.80
Glendale $2.45
Pasadena $2.35
Tri-Cities $2.52
Beverly Hills $2.74
Brentwbod $2.81
Century City $2.93
Hollywood/WeHo $2.31
Marina/CulverCity $2.27
Miracle/Park Mile $2.22
Santa Monica $3.28
West Los Angeles $2.64
Westwood $3.19
West L.A. $2.76
Central Valley $1.97
Coastal Plain
Conejo Valley $2.03
East Valley $1.99
Santa Clarita Valley $2.21
West Valley $2.24
San Fernando Valley $2.07
LAX/Century Blvd. $1.53
El Segundo/Beach Cities $2.48
190th Street Corridor $1.82
Torrance Central $2.03
Carson $1.79
Long Beach Suburban $2.25
Long Beach Downtown $2.12
South Bay $2.14
L.A. County $2.22
Los Angeles County Industrial Market,
First Quarter 2001
Total Vacant Vacancy Rate
Inventory Space 1st Qtr.
Market/Submarket (square ft.) (square ft.) 2001
Central LA 279,737,289 6,264,956 2.2%
Mid-Cities 89,257,763 5,100,000 5.7%
North Los Angles [4] 171,986,668 6,978,530 4.1%
South Bay 193,358,932 7,587,037 3.9%
San Gabriel Valley 155,520,395 6,215,075 4.0%
LA County Total 889,861,047 32,145,598 3.6%
Under
4th Qtr. 1st Qtr. Construction
Market/Submarket 2000 2000 (square ft.)
Central LA 3.3% 2.1% 1,561,503
Mid-Cities 5.4% 6.9% 986,947
North Los Angles [4] 4.1% 5.7% 1,063,360
South Bay 3.6% 4.0% 3,269,223
San Gabriel Valley 2.8% 4.3% 1,482,951
LA County Total 3.8% 4.6% 8,363,984
Sold & Leased (square ft.)
1st Qtr. 4th Qtr.
Market/Submarket 2001 2000
Central LA 1,663,726 2,992,586
Mid-Cities 1,500,000 1,638,411
North Los Angles [4] 1,851,304 2,142,111
South Bay 3,052,720 2,821,629
San Gabriel Valley 2,322,660 3,883,805
LA County Total 10,390,410 13,478,542
Asking Rent [3]
1st Qtr. 1st Qtr. 4th Qtr. 1st Qtr.
Market/Submarket 2000 2001 2000 2000
Central LA 1,314,344 $0.57 $0.57 $0.44
Mid-Cities 2,867,229 $0.50 $0.50 $0.49
North Los Angles [4] 1,901,328 $0.58 $0.59 $0.52
South Bay 2,319,479 $0.58 $0.58 $0.56
San Gabriel Valley 2,378,556 $0.42 $0.42 $0.40
LA County Total 10,780,936 $0.53 $0.53 $0.50
(1.)Net Absorption absorption [Lat.,=sucking from], taking of molecules of one substance directly into another substance. It is contrasted with adsorption, in which the molecules adhere only to the surface of the second substance. is the change in occupied oc·cu·py tr.v. oc·cu·pied, oc·cu·py·ing, oc·cu·pies 1. To fill up (time or space): a lecture that occupied three hours. 2. To dwell or reside in. 3. space for a given period of time, excluding sublet sub·let tr.v. sub·let, sub·let·ting, sub·lets 1. To rent (property one holds by lease) to another. 2. To subcontract (work). n. space and renewals (2.)Average monthly, per-square-foot rents (3.)Average monthly, triple-net rents (4.)Includes Ventura Ventura (vĕnt  `rə), city (1990 pop. 92,575), seat of Ventura co., SW Calif., on the Pacific coast in a farm and oil region; inc. 1866. CountyDue to the transfer of owner/occupied space to competitively leasable space and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. the delivery of new construction in the market, discrepancies may occur in the relation between vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. rates and net absorption. Source: Grubb & Ellis ELLIS - EuLisp LInda System. An object-oriented Linda system written for EuLisp. "Using Object-Oriented Mechanisms to Describe Linda", P. Broadbery <pab@maths.bath.ac.uk> et al, in Linda-Like Systems and Their Implementation, G. Wilson ed, U Edinburgh TR 91-13, 1991. |
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