Author: Marketing Team
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The Covid Year & its Effects on the Commercial Real Estate Market
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Commercial real estate trends are not absolute–and they’re not necessarily exactly the same in all markets or submarkets. However, general trends matter when predicting what the future holds, even when these trends seem to be changing weekly in response to vaccination levels and the easing of government restrictions. That being said, for several decades…
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It is widely accepted that the commercial real estate market, as a whole, has taken a hit during Covid-19. Restaurants and brick-and-mortar shops have faced the worst of it as retail properties everywhere shut down. Office buildings have not fared much better as most companies sent their employees to work from home. The drop in demand for those two property…
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Anyone reading this understands that 2020 was one of the most volatile and difficult years in our lifetime. With that, the commercial real estate market and industry has become one of the most affected industries by the COVID-19 pandemic. However, 2020 did not affect all commercial real estate categories in the same way. The industrial sector of the economy has…
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Now that we are two full quarters deep into the global recessions caused by the COVID-19 virus, the effects of the pandemic are becoming crystal clear in the commercial real estate industry. Everyone understands that the retail, hospitality, travel and leisure, and entertainment industry categories are completely distressed, so much so that we have seen tens of thousands of businesses…
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After nearly a ten-year run of consistent rental growth and strong market fundamentals, the commercial real estate industry, including nearly all real estate product types, has suddenly found itself faced with extreme challenges. COVID-19 has been a brutal shock to the world economy and the economic spillover into the commercial real estate industry is just beginning, and will be severe. …
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The Los Angeles office and industrial markets had an almost entirely flat year in 2019, which is a reversal from prior years where we saw more volatility and rental rate growth countywide. The office space market held its vacancy rate at 9.4% for each quarter end for the entire year. While net absorption was slightly negative, to the tune of approximately…
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The Los Angeles office, industrial and flex markets all finished the third quarter nearly flat by all metrics. For office space, countywide vacancy remained unchanged from the prior quarter at 9.7%, where it has hovered for more than a year’s time now. The ratio of direct and sublease space available also has remained healthy and consistent, with sublease space representing…
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The Los Angeles office market has been characterized by relatively fluid and trivial back and forth swings in vacancy and the second quarter of 2019 was no exception. Since 2017, we have seen quarter-by-quarter vacancy go up five times, down three times, and remain steady to a tenth of a percent once. Meanwhile, over the same period, the average gross…
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The Los Angeles office market is off to a very slow start to the year. After ending 2018 on a pronounced high note with a record setting quarter in terms of rental growth and reduction in county-wide vacancy, we have seen a much more relaxed first quarter of the year.
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The Los Angeles office market ended 2018 on a pronounced high note, which represented one of the strongest performing quarters in recent history. Overall vacancy countywide dropped from 10.2% to 9.7% from the end of the 3rd to 4th quarter. The vacancy rate is now the lowest that it’s been since the 4th quarter of 2008 when it was a…
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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…