Los Angeles County Office Market, Second Quarter 2001.
Los Angeles County Office Market, Second Quarter 2001
Vacancy Rate
Total Vacant Space 2nd Qtr.
Market/Submarket Inventory (square ft.) 2001
Downtown L.A. 32,102,700 6,119,391 19.1%
Wilshire Center 7,300,405 1,180,229 16.2%
Central L.A. 39,403,105 7,299,620 18.5%
San Gabriel Valley 9,037,212 997,118 11.0%
Burbank 3,789,928 350,837 9.3%
Glendale 6,066,195 881,318 14.5%
Pasadena 6,235,549 650,921 10.4%
Tri-Cities 16,091,672 1,883,076 11.7%
Beverly Hills 5,413,236 699,229 12.9%
Brentwood 3,366,878 248,474 7.4%
Century City 9,000,887 461,101 5.1%
Hollywood/WeHo 2,742,917 403,224 14.7%
Marina/Culver City 5,087,687 493,492 9.7%
Miracle/Park Mile 5,445,167 760,738 14.0%
Santa Monica 7,497,592 995,087 13.3%
West Los Angeles 5,421,770 773,677 14.3%
Westwood 2,868,210 413,957 14.4%
West L.A. 46,844,344 5,248,979 11.2%
Central Valley 7,732,737 689,116 8.9%
Coastal Plain 203,359 78,338 38.5%
Conejo Valley 3,723,164 395,805 10.6%
East Valley 2,708,652 294,099 10.9%
Santa Clarita Valley 1,285,808 373,148 29.0%
West Valley 8,500,924 919,247 10.8%
San Fernando Valley 24,154,644 2,749,753 11.4%
LAX/Century Blvd. 4,080,481 1,237,701 30.3%
El Segundo/Beach Cities 9,910,700 1,243,492 12.5%
190th Street Corridor 3,156,628 264,157 8.4%
Torrance Central 3,375,870 341,474 10.1%
Carson 1,293,095 191,532 14.8%
Long Beach Suburban 4,559,671 430,898 9.5%
Long Beach Downtown 4,090,104 629,489 15.4%
South Bay 30,466,549 4,338,743 14.2%
L.A. County 165,997,526 22,517,289 13.6%
Under
1st Qtr. 2nd Qtr. Construction
Market/Submarket 2001 2000 (square ft.)
Downtown L.A. 20.3% 22.5% 0
Wilshire Center 16.5% 20.5% 0
Central L.A. 19.6% 21.5% 0
San Gabriel Valley 13.5% 20.2% 121,633
Burbank 7.7% 5.5% 577,000
Glendale 13.9% 11.7% 0
Pasadena 7.6% 6.1% 0
Tri-Cities 10.0% 8.5% 577,000
Beverly Hills 10.5% 8.7% 120,000
Brentwood 6.0% 4.2% 0
Century City 5.2% 3.9% 0
Hollywood/WeHo 12.1% 9.4% 80,000
Marina/Culver City 5.4% 3.3% 650,299
Miracle/Park Mile 11.3% 9.0% 0
Santa Monica 8.0% 1.7% 91,400
West Los Angeles 11.4% 4.1% 150,000
Westwood 14.8% 14.6% 0
West L.A. 8.8% 5.8% 1,091,699
Central Valley 9.1% 11.5% 0
Coastal Plain 36.0% 16.2% 0
Conejo Valley 13.7% 8.2% 296,861
East Valley 15.1% 7.7% 0
Santa Clarita Valley 28.3% 38.1% 125,000
West Valley 10.3% 10.3% 178,215
San Fernando Valley 12.1% 11.7% 600,076
LAX/Century Blvd. 25.5% 27.4% 0
El Segundo/Beach Cities 9.8% 8.6% 404,000
190th Street Corridor 8.1% 10.3% 0
Torrance Central 11.7% 9.4% 0
Carson 13.8% 18.7% 0
Long Beach Suburban 9.2% 13.0% 0
Long Beach Downtown 14.4% 11.3% 0
South Bay 12.6% 12.8% 404,000
L.A. County 12.9% 13.0% 2,794,408
Net Absorption (square ft.) 1
2nd Qtr. 1st Qtr.
Market/Submarket 2001 2001
Downtown L.A. (141,276) 350,417
Wilshire Center 39,293 (11,485)
Central L.A. (101,983) 338,932
San Gabriel Valley 123,177 193,041
Burbank (59,750) (49,417)
Glendale (36,891) (139,140)
Pasadena (14,288) (103,755)
Tri-Cities (110,929) (292,312)
Beverly Hills (56,126) (40,798)
Brentwood (45,401) (47,673)
Century City 9,281 (120,986)
Hollywood/WeHo (70,651) (5,100)
Marina/Culver City 82,349 49,238
Miracle/Park Mile (170,994) 85,715
Santa Monica (394,359) 11,376
West Los Angeles (89,968) (164,678)
Westwood 10,450 (80,886)
West L.A. (725,419) (313,792)
Central Valley 33,415 (116,031)
Coastal Plain 17,518 (1,867)
Conejo Valley 63,126 91,379
East Valley 126,253 (155,193)
Santa Clarita Valley (8,977) 19,543
West Valley 230,041 (89,248)
San Fernando Valley 461,376 (251,417)
LAX/Century Blvd. (89,101) (134,072)
El Segundo/Beach Cities (272,238) (168,833)
190th Street Corridor (6,970) 31,499
Torrance Central (38,256) (11,179)
Carson (12,526) 45,886
Long Beach Suburban (13,364) 40,982
Long Beach Downtown (40,069) (15,182)
South Bay (472,524) (210,899)
L.A. County (826,302) (536,447)
Class-A Asking Rent 2
2nd Qtr. 2nd Qtr. 1st Qtr.
Market/Submarket 2000 2001 2001
Downtown L.A. (743,947) $2.43 $2.42
Wilshire Center (2,240) $1.42 $1.40
Central L.A. (746,187) $2.40 $2.23
San Gabriel Valley 149,522 $2.02 $1.99
Burbank 16,884 $2.57 $2.62
Glendale 268,295 $2.58 $2.41
Pasadena (47,239) $2.45 $2.41
Tri-Cities 237,940 $2.53 $2.44
Beverly Hills (6,577) $3.01 $3.27
Brentwood 28,799 $3.18 $3.24
Century City 102,292 $3.31 $3.34
Hollywood/WeHo 39,410 $2.42 $2.50
Marina/Culver City 56,800 $2.88 $2.72
Miracle/Park Mile 59,185 $2.49 $2.45
Santa Monica (71,245) $4.04 $3.89
West Los Angeles (29,763) $2.59 $3.34
Westwood 86,122 $3.60 $3.70
West L.A. 265,023 $3.14 $3.21
Central Valley (68,638) $2.16 $2.07
Coastal Plain 0 $1.85 --
Conejo Valley 80,496 $2.37 $2.31
East Valley 64,254 $2.61 $2.64
Santa Clarita Valley (56,746) $1.94 $1.95
West Valley 137,924 $2.51 $2.52
San Fernando Valley 157,290 $2.36 $2.30
LAX/Century Blvd. 49,384 $1.62 $1.62
El Segundo/Beach Cities 334,047 $2.86 $2.85
190th Street Corridor 33,062 $2.05 $2.05
Torrance Central 255,800 $2.14 $2.18
Carson (65,440) $1.90 $1.90
Long Beach Suburban 86,807 $1.98 $2.46
Long Beach Downtown 55,297 $2.12 $2.12
South Bay 748,957 $2.25 $2.32
L.A. County 812,545 $2.45 $2.42
2nd Qtr.
Market/Submarket 2000
Downtown L.A. $2.23
Wilshire Center $1.28
Central L.A. $2.05
San Gabriel Valley $1.93
Burbank $2.83
Glendale $2.49
Pasadena $2.38
Tri-Cities $2.56
Beverly Hills $2.86
Brentwood $2.82
Century City $3.05
Hollywood/WeHo $2.47
Marina/Culver City $2.41
Miracle/Park Mile $2.37
Santa Monica $3.43
West Los Angeles $2.96
Westwood $3.28
West L.A. $2.77
Central Valley $1.96
Coastal Plain --
Conejo Valley $2.25
East Valley $1.99
Santa Clarita Valley $2.17
West Valley $2.24
San Fernando Valley $2.10
LAX/Century Blvd. $1.47
El Segundo/Beach Cities $2.54
190th Street Corridor $1.87
Torrance Central $2.13
Carson $1.79
Long Beach Suburban $2.38
Long Beach Downtown $2.11
South Bay $2.18
L.A. County $2.26
COPYRIGHT 2001 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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