The Los Angeles office rental market is seeing unprecedented high vacancy rates, reported at 24.2% by CBRE, with overall availability exceeding 29% when considering unoccupied "shadow" spaces. Although cities like Century City are experiencing tight occupancy and high rents, many landlords are struggling to fill buildings due to soft tenant demand, compounded by challenges like wildfires and economic tensions from tariffs, which pause business decisions. Despite initial optimism for recovery by 2025, uncertainty continues to loom over the market.
Tenants are taking advantage of the high office vacancy rates in the Los Angeles area, leading to a competitive landscape for landlords trying to fill their properties.
With overall office vacancy rates hitting 24.2% across greater Los Angeles, the market is currently saturated with available space, reaching unprecedented levels.
The impact of wildfires and economic uncertainties, particularly surrounding tariffs, has stalled optimistic projections for the office leasing market as businesses hesitate.”},{
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