Los Angeles County office market, second quarter 2004.
Los Angeles County Office Market, Second Quarter 2004
Total Vacant Space
Market/Submarket Inventory (square ft.)
Downtown 32,192,037 6,433,827
Wilshire Center 7,186,440 876,865
San Gabriel Valley 14,368,442 1,633,494
Burbank 4,530,131 669,363
Glendale 5,994,122 889,537
Pasadena 6,740,682 581,617
Tri-Cities 17,264,935 2,140,517
Beverly Hills 5,931,532 706,599
Brentwood 3,455,134 465,093
Century City 9,286,188 1,639,026
Hollywood/WeHo 3,811,492 794,243
Marina/Culver City 5,815,816 999,937
Miracle/Park Mile 5,855,479 981,663
Santa Monica 7,882,943 1,288,718
West Los Angeles 5,678,218 912,534
Westwood 3,002,875 671,140
West Los Angeles 50,719,677 8,458,953
Central Valley 7,883,813 697,180
Conejo Valley * 6,857,757 640,537
East Valley 2,818,998 384,764
Santa Clarita Valley 1,593,150 147,863
West Valley 7,820,267 825,290
North Los Angeles 26,973,985 2,695,634
190th Street Corridor 3,125,723 548,506
Carson 1,173,071 167,953
El Segundo/Beach Cities 10,458,226 2,520,491
LAX/Century Blvd. 3,884,481 1,169,357
Long Beach Downtown 4,093,889 560,398
Long Beach Suburban 4,687,826 485,187
Torrance Central 3,307,808 479,083
South Bay 30,731,024 5,930,975
Los Angeles County 179,436,540 28,170,265
Vacancy Rate
2nd Qtr. 1st Qtr.
Market/Submarket 2004 2004
Downtown 20.0% 19.8%
Wilshire Center 12.2% 12.8%
San Gabriel Valley 11.4% 11.6%
Burbank 14.8% 12.6%
Glendale 14.8% 14.6%
Pasadena 8.6% 9.3%
Tri-Cities 12.4% 12.0%
Beverly Hills 11.9% 13.3%
Brentwood 13.5% 13.8%
Century City 17.7% 17.4%
Hollywood/WeHo 20.8% 21.9%
Marina/Culver City 17.2% 16.5%
Miracle/Park Mile 16.8% 16.3%
Santa Monica 16.3% 17.3%
West Los Angeles 16.1% 16.2%
Westwood 22.3% 22.9%
West Los Angeles 16.7% 17.0%
Central Valley 8.8% 9.3%
Conejo Valley * 9.3% 10.6%
East Valley 13.6% 13.8%
Santa Clarita Valley 9.3% 10.4%
West Valley 10.6% 14.0%
North Los Angeles 10.0% 11.5%
190th Street Corridor 17.5% 16.6%
Carson 14.3% 7.2%
El Segundo/Beach Cities 24.1% 25.1%
LAX/Century Blvd. 30.1% 31.6%
Long Beach Downtown 13.7% 14.4%
Long Beach Suburban 10.3% 10.5%
Torrance Central 14.5% 18.2%
South Bay 19.3% 20.0%
Los Angeles County 15.7% 16.1%
Under
2nd Qtr. Construction
Market/Submarket 2003 (square ft.)
Downtown 20.6% 0
Wilshire Center 11.7% 0
San Gabriel Valley 12.2% 55,000
Burbank 16.6% 284,293
Glendale 13.6% 0
Pasadena 10.7% 232,782
Tri-Cities 13.3% 517,075
Beverly Hills 12.9% 40,708
Brentwood 10.4% 0
Century City 15.3% 790,121
Hollywood/WeHo 19.8% 0
Marina/Culver City 19.3% 0
Miracle/Park Mile 19.3% 0
Santa Monica 15.0% 42,500
West Los Angeles 13.8% 0
Westwood 19.9%
West Los Angeles 16.0% 873,329
Central Valley 10.0% 0
Conejo Valley * 15.4% 147,517
East Valley 11.1% 0
Santa Clarita Valley 16.0% 42,760
West Valley 14.5% 0
North Los Angeles 13.0% 190,277
190th Street Corridor 10.2% 0
Carson 7.9% 0
El Segundo/Beach Cities 26.1% 0
LAX/Century Blvd. 27.2% 0
Long Beach Downtown 14.7% 0
Long Beach Suburban 10.6% 39,000
Torrance Central 16.2% 0
South Bay 19.1% 39,000
Los Angeles County 16.2% 1,674,681
Net Absorption (square ft.) (1)
2nd Qtr. 1st Qtr.
Market/Submarket 2004 2004
Downtown (50,275) (66,371)
Wilshire Center 46,458 (34,919)
San Gabriel Valley 26,230 (27,948)
Burbank (99,868) (40,057)
Glendale (15,216) (69,590)
Pasadena 48.617 347,025
Tri-Cities (66,467) 237,378
Beverly Hills 75,560 (32,628)
Brentwood 13,431 58,193
Century City (22,866) 144,529
Hollywood/WeHo 5,277 (4,713)
Marina/Culver City (41,101) (38,534)
Miracle/Park Mile (27,451) (20,180)
Santa Monica 71,555 36,156
West Los Angeles 6,266 43,577
Westwood 17,932 30,132
West Los Angeles 98,603 216,532
Central Valley 33,345 132,410
Conejo Valley * 76,857 83,576
East Valley 5,033 6,909
Santa Clarita Valley 17,462 9,361
West Valley 199,274 145,572
North Los Angeles 331,971 377,828
190th Street Corridor 26,034 2,013
Carson (83,587) (5,240)
El Segundo/Beach Cities 109,495 (57,778)
LAX/Century Blvd. 57,690 (67,029)
Long Beach Downtown 29,299 57,458
Long Beach Suburban 6,472 (20,704)
Torrance Central 3,200 114,044
South Bay 148,603 22,764
Los Angeles County 535,123 725,264
Class-A Asking Rent(2)
2nd Qtr. 2nd Qtr.
Market/Submarket 2003 2004
Downtown (350,691) $2.58
Wilshire Center 45,733 $1.40
San Gabriel Valley (66,035) $1.92
Burbank 47,332 $2.59
Glendale 70,761 $2.38
Pasadena (88,453) $2.38
Tri-Cities 29,640 $2.44
Beverly Hills 22,955 $2.80
Brentwood 20,278 $2.55
Century City 426,429 $3.04
Hollywood/WeHo (33,185) $2.32
Marina/Culver City (33,731) $2.25
Miracle/Park Mile 65,394 $2.14
Santa Monica (12,349) $3.12
West Los Angeles 88,690 $2.41
Westwood 29,898 $2.79
West Los Angeles 574,379 $2.68
Central Valley 146,327 $2.03
Conejo Valley * 123,988 $2.18
East Valley 16,890 $2.56
Santa Clarita Valley (8,969) $1.98
West Valley 112,327 $2.13
North Los Angeles 390,563 $2.14
190th Street Corridor 30,530 $2.00
Carson (6,128) $1.87
El Segundo/Beach Cities (192,994) $2.18
LAX/Century Blvd. (169) $1.52
Long Beach Downtown (106,658) $2.14
Long Beach Suburban (8,391) $2.15
Torrance Central 44,377 42.12
South Bay (239,433) $2.03
Los Angeles County 384,156 $2.41
1st Qtr. 2nd Qtr.
Market/Submarket 2004 2003
Downtown $2.56 $2.42
Wilshire Center $1.43 $1.39
San Gabriel Valley $1.96 $2.06
Burbank $2.59 $2.56
Glendale $2.43 $2.46
Pasadena $2.36 $2.34
Tri-Cities $2.45 $2.45
Beverly Hills $2.84 $2.91
Brentwood $2.58 $2.73
Century City $3.11 $3.15
Hollywood/WeHo $2.28 $2.34
Marina/Culver City $2.13 $2.41
Miracle/Park Mile $2.09 $2.05
Santa Monica $3.14 $3.16
West Los Angeles $2.41 $2.33
Westwood $2.82 $2.99
West Los Angeles $2.70 $2.77
Central Valley $2.04 $2.07
Conejo Valley * $2.21 $2.28
East Valley $2.54 $2.66
Santa Clarita Valley $1.79 $1.89
West Valley $2.11 $2.19
North Los Angeles $2.14 $2.18
190th Street Corridor $2.06 $2.13
Carson $1.88 $1.89
El Segundo/Beach Cities $2.22 $2.36
LAX/Century Blvd. $1.51 $1.58
Long Beach Downtown $2.12 $2.18
Long Beach Suburban $2.13 $2.13
Torrance Central $2.12 $2.23
South Bay $2.04 $2.13
Los Angeles County $2.42 $2.40
COPYRIGHT 2004 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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