Posts by Tucker Hughes
Tucker Hughes on October 09, 2018
The Los Angeles office space market concluded the third quarter with no change in vacancy for both direct and sublet space, which continues to hover at an aggregate of 10.2% countywide. The amount of vacant space has continued to trend downward from a post-recession peak of 12.4%, which the market experienced in the fourth quarter of 2010. While a reduction of 2.2% over the past eight years may not seem like a lot, in order to chip away at vacancy, the market also needs to absorb all of the new buildings brought to market over that same period. From the fourth quarter of 2010 to the end of the third quarter of 2018, over 13 million square feet of office space have been delivered, in addition to the market absorbing approximately 9 million square feet of space on top of the added square footage.Read More
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Tucker Hughes is managing director at Hughes Marino, an award-winning commercial real estate firm with offices across the nation. As head of Hughes Marino’s Orange County and Los Angeles offices, Tucker specializes in tenant representation and building purchases throughout Southern California and beyond. Tucker makes frequent media appearances to speak on the future of commercial real estate, and is also a regular columnist for Entrepreneur.com. Contact Tucker at 1-844-662-6635 or email@example.com.