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Los Angeles, CA

Apartment
The 792,076-unit market-rate, investment grade Los Angeles apartment market started 2017 with stable occupancy and a slight dip in rents. Reis reports a first quarter 2017 vacancy rate of 3.3%, unchanged from one quarter earlier and up 10 basis points over the year. Rents lost ground in the first quarter of 2017, something rarely seen in Los Angeles. The average asking and effective rents decreased 0.1% apiece to $1,778 and $1,725 per month. The 2016 annual increases were 5.3% asking and 4.9% effective, respectively. VIEW APARTMENT LISTINGS >
Industrial
The Los Angeles warehouse/distribution market started 2017 with improving occupancy and strong rent gains. Flex/R&D space finished 2017 with extremely low vacancy and healthy rent growth as well. Reis reports a first quarter 2017 vacancy rate of 5.6% for 449 million square feet of warehouse/distribution space in Los Angeles County, down 40 basis points from the prior quarter and down the same amount year-over-year. The rate has not changed much in the past two years. Rents for warehouse/distribution increased strongly in the first quarter of 2017. Reis reports the average asking and effective rents rose 0.9% each during the first quarter to finish at $6.85 psf and $6.42 psf. These rates are up 3.2% and 3.4% for the year. For 38.8 million square feet of Flex/R&D space, Reis reports a vacancy rate of 2.8% in the first quarter, down 30 basis points from the prior quarter and down 40 year-over-year. For Flex/R&D space, the average asking and effective rents were up 0.7% during the quarter to $11.99 psf and $10.91 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 started 2017 with stable occupancy and solid rent growth. Net absorption was strong as construction continues. Reis reports a first quarter 2017 vacancy rate of 13.4%, unchanged from the prior quarter but down 50 basis points year-over-year. Office rents in Los Angeles were solid during the first quarter. Asking and effective rents both rose 0.4% to $38.62 psf and $30.08 psf, respectively. These rates are up 2.5% and 2.7% year-over-year. VIEW OFFICE LISTINGS >
Retail
The 67.4-million-square-foot Los Angeles community-neighborhood shopping center market finished the first quarter of 2017 with a slight gain in occupancy and modest rent increases. The community-neighborhood shopping center market’s first quarter 2017 vacancy rate of 6.1% is down 10 basis points from the prior quarter and down 20 basis points over 12 months. The rate has remained close to the 6.0% mark since 2010. Community-neighborhood shopping center rents continued to post gains through the first quarter, Reis reports. The average asking rent finished the quarter at $32.08 psf and the average effective rent at $28.30 psf, both up 0.3% for the quarter. The year-over-year gains are 1.3% and 1.5%, respectively. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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