Posts by Tucker Hughes
Tucker Hughes on September 02, 2020
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.
Los Angeles’ second quarter of 2020 ended with more total office space on the market than we have ever seen in the county’s history. This consists of a total of 49.0 million square feet of available office space in a market that totals 425.3 million square feet in size. This puts the total amount of available space at 12.8%.
There are many other factors that are equally as alarming. For example, there is an unprecedented amount of sublease inventory that is hitting the market. From the first to second quarter of this year, the office market experienced a 20.4% increase in sublease availability, which is the highest ever recorded single quarter increase in the county’s history. Leasing activity also fell to its lowest level ever recorded, coming in at 2.17 million square feet for the quarter versus the prior year’s average of 6.46 million square feet per quarter, which has generally been stable for the last decade. This all is happening at the same time that we have the highest ever recorded amount of new construction being built.Read More
As Rents Continue to Increase, CRE Markets Remain Flat in Los Angeles for Q3
Anduril Industries Moves into New Headquarters with the Help of Hughes Marino
Fundamentals Flat, Rents Rising in Los Angeles County
2019 Off to a Slow Start-What is on the Horizon for Los Angeles?
The Year Ends Strong for Los Angeles’ CRE Market, but Will it Continue?
Los Angeles Office, Industrial & Flex Markets Inch Higher
Rental Rates Experience Rapid Growth in Los Angeles Despite Stable Fundamentals
Fundamentals Remain Flat, Rents Still Rising in Los Angeles
Los Angeles’ Market Remained Steady in 2017–What’s Next?
Industrial Building Inventory Down; Office Space Up in Los Angeles County
Tucker Hughes Shares Tips on How to Live a Fulfilling Life
Los Angeles Rents Rising with Variation Countywide, Vacancy Static
Los Angeles Industrial and Office Sectors Finish Strong in 2016
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 firstname.lastname@example.org.