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Regional Summaries

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Los Angeles, CA

Apartment
The 782,647-unit market-rate, investment grade Los Angeles apartment market has finished 2015 with solid rent gains and continued low vacancy. Reis reports a fourth quarter 2015 vacancy rate of 3.3%, up 10 basis points from the prior quarter and the same amount from one year earlier. Rents continued strong through the fourth quarter. The average asking and effective rents both increased 1.4% to $1,611 and $1,575 per month. The year-over-year increases are 5.1% and 5.2%, respectively. VIEW APARTMENT LISTINGS >
Industrial
The Los Angeles warehouse/distribution market and the Flex/R&D market both finished off 2015 with substantial rent gains and positive net absorption. Reis reports a fourth quarter 2015 vacancy rate of 6.0% for 448 million square feet of warehouse/distribution space in Los Angeles County, down 10 basis points from the prior quarter and down 50 basis points from the fourth quarter of 2014. Warehouse/distribution rents were healthy at the end of 2015. Reis reports the average asking and effective rents rose 0.9% and 1.0%, respectively, during the fourth quarter of 2015 to finish at $6.60 psf and $6.17 psf. These rates are up 2.6% and 3.0%, respectively, for the year. For 38.8 million square feet of Flex/R&D space, Reis reports a vacancy rate of 2.6% in the fourth quarter, down 40 basis points from the prior quarter and down 120 year-over-year. For Flex/R&D space, the average asking and effective rents were up 0.6% and 0.7% during the quarter to $11.65 psf and $10.57 psf. These rates are up 2.2% and 2.5% over the year. VIEW INDUSTRIAL LISTINGS >
Office
The 197-million-square-foot Los Angeles general purpose, multi-tenant office market posted rent gains in 2015 and finished the year with healthy net absorption. Vacancy is stable, but it remains firmly in the double digits. Reis reports a fourth quarter 2015 vacancy rate of 14.3%, down 60 basis points from the prior quarter and down 90 year-over-year. Office rents in Los Angeles finished 2015 in good form. In the fourth quarter, the average asking rent and the average effective rent rose 1.1% and 1.2% to $35.50 psf and $28.94 psf, respectively. The asking and effective averages are up 3.8% and 4.2% from 12 months earlier. VIEW OFFICE LISTINGS >
Retail
The 67-million-square-foot Los Angeles community-neighborhood shopping center market finished the fourth quarter of 2015 with a slight decline in occupancy and continued healthy rent gains. The community-neighborhood shopping center market’s fourth quarter 2015 vacancy rate of 6.4% is up 40 basis points from the previous three quarters and up 40 basis points year-over-year as well. Community-neighborhood shopping center rents finished off 2015 in good form, Reis reports. The average asking rent finished the fourth quarter at $31.44 psf and the average effective rent at $27.67 psf, both up 0.6% for the quarter. The year-over-year gains are 3.2% and 3.4%, respectively. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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