Net effective rents in the L.A. region have been falling anywhere from 5 to 10 percent amid the pandemic as landlords offer greater incentives to draw and retain tenants, said Eric Willett, CBRE’s research director for the Pacific Southwest. It’s a different story for asking rents.
“Actual asking rents haven’t budged much between quarter one and quarter two,” Willett said. “In the coming quarters, we would certainly expect to see movement in asking rents to follow the trend in net effective rents. That’s what we’ve seen in previous recessions, and we would expect to see that again over the next few quarters.”
This article was published by Commercial Observer and features commentary from the OfficeCreated team. Read the full article