Despite uncertainties caused by the COVID-19 pandemic, the Los Angeles office market is seeing a decrease in sublet availability as companies withdraw sublease space amid talks of heading back to the office. According to a report from Newmark, which analyzed leasing trends in Los Angeles’ office market, the amount of lease transactions increased 87.9 percent since the same time in 2020.
According to the report, which analyzed leasing activity from June to August, sublet availability has seen a large decrease over the past several months. In June, Newmark reported 7.49 million square feet of sublease space available in the Los Angeles office market, while in August, 6.87 square feet of sublease space was available.
This article was published by The Registry and features commentary from the OfficeCreated team. Read the full article