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Los Angeles, CA

Apartment
The 790,574-unit market-rate, investment grade Los Angeles apartment market posted another quarter of steady occupancy and quarterly rent gains. Reis reports a fourth quarter 2016 vacancy rate of 3.3%, down 20 basis points from the prior quarter and unchanged from one year earlier. Rents were strong in the fourth quarter of 2016. The average asking and effective rents increased 0.6% apiece to $1,775 and $1,721 per month. The 2016 annual increases are 5.0% and 4.6%, respectively. VIEW APARTMENT LISTINGS >
Industrial
The Los Angeles warehouse/distribution market finished 2016 with steady occupancy and healthy, though modest, rent gains. Flex/R&D space finished 2016 with extremely low vacancy and modest rent growth also. Reis reports a fourth quarter 2016 vacancy rate of 6.0% for 449 million square feet of warehouse/distribution space in Los Angeles County, unchanged from the prior quarter and unchanged year-over-year. Rents for warehouse/distribution increased strongly in the fourth quarter of 2016. Reis reports the average asking and effective rents rose 0.9% and 1.0% during the quarter to finish 2016 at $6.79 psf and $6.36 psf. These rates are up 2.9% and 3.1% for the year. For 38.8 million square feet of Flex/R&D space, Reis reports a vacancy rate of 3.1% in the fourth quarter, down 30 basis points from the prior quarter and unchanged 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 $11.91 psf and $10.83 psf. These rates are up 2.2% and 2.5% over the year. VIEW INDUSTRIAL LISTINGS >
Office
The 198-million-square-foot Los Angeles general purpose, multi-tenant office market finished off 2016 with healthy rents and strong net absorption. Vacancy remains on the high side. Reis reports a fourth quarter 2016 vacancy rate of 13.4%, up 10 basis points from the prior quarter but down 80 year-over-year. Office rents in Los Angeles remained strong in the fourth quarter, allowing the metro to finish off 2016 with solid gains. The average asking rent and the average effective rent rose 1.0% and 0.9%, respectively, to $36.68 psf and $29.96 psf. These rates are up 3.4% and 3.6% over 12 months. VIEW OFFICE LISTINGS >
Retail
The 67.4-million-square-foot Los Angeles community-neighborhood shopping center market finished the fourth quarter of 2016 with a slight dip in occupancy but continued rent gains. The community-neighborhood shopping center market’s fourth quarter 2016 vacancy rate of 6.2% is down 10 basis points from the prior quarter and down 10 basis points over 12 months. Community-neighborhood shopping center rents continued to post gains through the fourth quarter, Reis reports. The average asking rent finished the quarter at $32.00 psf and the average effective rent at $28.21 psf, both up 0.2% for the quarter. The year-over-year gains are 1.8% and 2.0%, respectively. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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