Los Angeles County office market, 1st quarter 2007.
Los Angeles County Office Market, 1st Quarter 2007
Total
Inventory Vacant Space
Market/Submarket (square ft.) (square ft.)
Downtown LA. 32,830,878 4,582,351
Wilshire Center 7,645,187 506,583
Miracle/Park Mile 5,910,612 591,984
Wilshire Corridor 13,555,799 1,098,567
San Gabriel Valley 14,028,401 1,065,064
Burbank 5,356,562 158,708
Glendale 6,155,911 903,380
Pasadena 7,066,018 371,063
Tri-Cities 18,578,491 1,433,151
Hollywood/WeHo 3,900,838 194,342
Beverly Hills 6,197,490 328,750
Brentwood 3,520,978 98,664
Century City 10,282,379 1,471,032
Marina/Culver City 5,609,938 452,170
Santa Monica 7,650,951 450,750
West Los Angeles 5,864,543 506,783
Westwood 3,112,243 253,910
Westside 42,238,522 3,562,059
Santa Clarita Valley 2,174,671 164,244
Central Valley 8,451,926 366,710
Conejo Valley ** 6,631,012 398,766
East Valley 2,845,575 66,428
West Valley 8,551,781 652,609
San Fernando Valley 26,480,294 1,484,513
190th Street Corridor 3,321,852 624,520
Carson 1,118,668 70,764
El Seg./Beach Cities 10,863,782 1,117,670
LAX/Century Blvd. 3,913,487 1,254,204
Long Beach Downtown 4,067,138 344,753
Long Beach Suburban 4,627,665 383,948
Torrance Central 3,115,540 171,957
South Bay 31,028,132 3,967,816
L.A. County Total 184,816,026 17,552,107
Under
Vacancy Rate Const-
ruction
1st Qtr. 4th Qtr. 1st Qtr. (square
Market/Submarket 2007 2006 2006 ft.)
Downtown LA. 14.0% 14.1% 15.0% 0
Wilshire Center 6.6% 6.4% 8.6% 0
Miracle/Park Mile 10.0% 9.9% 9.1% 0
Wilshire Corridor 8.1% 8.0% 8.8% 0
San Gabriel Valley 7.6% 7.4% 10.0% 0
Burbank 3.0% 3.6% 7.3% 0
Glendale 14.7% 16.2% 14.7% 0
Pasadena 5.3% 4.7% 5.4% 0
Tri-Cities 7.7% 8.2% 9.1% 0
Hollywood/WeHo 5.0% 4.9% 11.3% 0
Beverly Hills 5.3% 4.9% 6.1% 22,789
Brentwood 2.8% 4.0% 6.5% 0
Century City 14.3% 7.6% 11.2% 0
Marina/Culver City 8.1% 6.5% 7.3% 365,000
Santa Monica 5.9% 5.5% 6.3% 90,050
West Los Angeles 8.6% 8.1% 7.8% 0
Westwood 8.2% 6.6% 9.4% 0
Westside 8.4% 6.4% 8.0% 477,839
Santa Clarita Valley 7.6% 8.1% 11.0% 183,392
Central Valley 4.3% 4.4% 5.3% 102,552
Conejo Valley ** 6.0% 5.8% 7.2% 605,294
East Valley 2.3% 2.9% 5.0% 0
West Valley 7.6% 8.8% 9.2% 255,192
San Fernando Valley 5.6% 6.0% 7.0% 963,038
190th Street Corridor 18.8% 21.3% 20.8% 0
Carson 6.3% 17.3% 13.5% 0
El Seg./Beach Cities 10.3% 13.0% 15.1% 0
LAX/Century Blvd. 32.0% 31.4% 33.3% 0
Long Beach Downtown 8.5% 9.6% 12.3% 0
Long Beach Suburban 8.3% 7.7% 10.5% 0
Torrance Central 5.5% 7.0% 7.5% 0
South Bay 12.8% 14.5% 16.1% 0
L.A. County Total 9.5% 9.5% 11.0% 1,624,269
Net absorption (square ft.) (1)
1st Qtr. 4th Qtr. 1st Qtr.
Market/Submarket 2007 2006 2006
Downtown LA. 35,578 74,701 28,202
Wilshire Center (23,218) (9,379) 11,406
Miracle/Park Mile (7,515) 31,619 62,397
Wilshire Corridor (30,733) 22,240 73,803
San Gabriel Valley 102,773 54,476 (91,859)
Burbank 31,218 35,191 (5,367)
Glendale 43,223 18,673 (53,091)
Pasadena (19,390) 8,833 36,138
Tri-Cities 55,051 62,697 (22,320)
Hollywood/WeHo (3,474) 25,144 (14,462)
Beverly Hills (28,029) (34,311) 144,919
Brentwood 41,438 53,483 69,349
Century City 29,427 93,760 6,370
Marina/Culver City (76,622) 41,812 64,503
Santa Monica (31,342) 86,833 29,559
West Los Angeles (31,467) (30,827) 65,837
Westwood (47,247) 55,693 20,302
Westside (143,842) 266,443 400,839
Santa Clarita Valley 88,191 2,053 37,250
Central Valley 98,510 (29,563) (3,421)
Conejo Valley ** (16,422) 46,284 (23,459)
East Valley 15,734 8,798 (1,521)
West Valley (29,566) (10,904) 32,586
San Fernando Valley 68,256 14,615 4,185
190th Street Corridor 82,754 (56,892) 6,466
Carson 29,545 (3,089) (14,384)
El Seg./Beach Cities 310,093 210,179 297,337
LAX/Century Blvd. (26,708) (62,653) (10,740)
Long Beach Downtown 34,933 4,194 35,130
Long Beach Suburban (27,453) 17,299 (23,632)
Torrance Central 44,817 (2,931) 46,601
South Bay 447,981 106,107 336,778
L.A. County Total 619,781 628,476 752,416
Class A Asking Rent (2)
1st Qtr. 4th Qtr. 1st Qtr.
Market/Submarket 2007 2006 2006
Downtown LA. $2.89 $2.86 $2.83
Wilshire Center $1.74 $1.60 $1.44
Miracle/Park Mile $2.94 $2.83 $2.69
Wilshire Corridor $2.47 $2.38 $2.17
San Gabriel Valley $2.54 $2.54 $2.26
Burbank $3.10 $3.01 $2.74
Glendale $2.71 $2.58 $2.49
Pasadena $3.18 $3.18 $2.62
Tri-Cities $2.92 $2.84 $2.59
Hollywood/WeHo $3.23 $3.15 $2.89
Beverly Hills $3.81 $3.47 $3.20
Brentwood $3.58 $3.38 $2.88
Century City $3.62 $3.39 $3.13
Marina/Culver City $3.29 $3.17 $2.60
Santa Monica $5.17 $4.83 $3.94
West Los Angeles $3.18 $3.01 $2.34
Westwood $4.09 $3.87 $3.21
Westside $3.74 $3.49 $3.05
Santa Clarita Valley $2.78 $2.56 $2.44
Central Valley $2.65 $2.47 $2.23
Conejo Valley ** $2.59 $2.55 $2.33
East Valley $3.46 $2.86 $2.59
West Valley $2.48 $2.40 $2.32
San Fernando Valley $2.65 $2.49 $2.33
190th Street Corridor $2.31 $2.27 $2.14
Carson $1.91 $2.08 $2.08
El Seg./Beach Cities $2.36 $2.22 $2.20
LAX/Century Blvd. $1.56 $1.57 $1.55
Long Beach Downtown $2.37 $2.42 $2.16
Long Beach Suburban $2.54 $2.45 $2.26
Torrance Central $2.10 $2.31 $2.27
South Bay $2.20 $2.15 $2.98
L.A. County Total $3.00 $2.86 $2.63
COPYRIGHT 2007 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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