1Q 2019 Los Angeles Office Market Report

We are pleased to invite you to view Newmark Knight Frank's 1st Quarter 2019 Los Angeles Market Report. This report reviews office space market highlights, trends and transactions for the Los Angeles marketplace in greater detail. Newmark Research provides similar reports for select Office and Industrial markets across the country. Please contact us if you are interested in receiving one of these reports.

Select Highlights Included:

  • Vacancy tightened, as moderate absorption gains exceeded new construction deliveries. The average asking rent meanwhile reached another record high.

  • Tech, media and coworking companies led leasing activity.

  • Century City is seeing aggressive leasing momentum, with no full-floor availabilities at Century Plaza Towers, 1999 Avenue of the Stars, Constellation Place or 10100 Santa Monica.

  • Towers, 1999 Avenue of the Stars, Constellation Place or 10100 Santa Monica.
    Larger tenants (50,000 square feet and greater) are casting wide nets to fulfill their requirements. This includes shopping planned developments on the Westside to Downtown Los Angeles’ Broadway Trade Corridor.

  • Google finalized its lease for 584,000 square feet at the Westside Pavilion, a now-obsolete shopping center that will be reimagined.

 
Christopher Torian