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Regional Summaries

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Los Angeles, CA

Apartment
The 809,632-unit Los Angeles apartment market finished 2018 with very strong rents and opened 2019 in a similar fashion. Net absorption is solid. Reis reports a first quarter 2019 vacancy rate of 3.6%, down 10 basis points from the prior quarter and up 30 from a year earlier. Rents rose again in the first quarter of 2019. The average asking rent and the average effective rent increased 1.0% and 0.7% to $2,029 and $1,940 per month, respectively. The year-over-year gains are 6.2% asking and 5.7% effective. VIEW APARTMENT LISTINGS >
Industrial
The Los Angeles warehouse/distribution market first quarter 2019 vacancy rate is 4.6% for 459 million square feet of warehouse/distribution space, down 10 basis points over the quarter, down 20 over the year. The average asking rent for warehouse/distribution space was up 0.4% over the quarter to $7.80 psf, as was the average effective rent, to $7.32 psf. The year-over-year gains are 3.0% and 3.2%, respectively. For 38.9 million square feet of Flex/R&D space, Reis reports a vacancy rate of just 3.2% in the first quarter of 2019, up 30 basis points for the quarter and up 30 from the first quarter of 2018. The average asking rent for Flex/R&D space increased 0.9% to $12.93 psf, with the average effective rent up 0.8% at $11.83 psf. The year-over-year gains are 3.2% and 3.0%, respectively. VIEW INDUSTRIAL LISTINGS >
Office
The 201-million-square-foot Los Angeles general purpose, multi-tenant office market finished 2017 with falling vacancy and another round of rent gains. Net absorption was positive for the year. Reis reports a fourth quarter 2017 vacancy rate of 14.8%, down 20 basis points from the prior quarter and up 30 basis points year-over-year. Office rents in Los Angeles finished off 2017 with a round of solid gains. The average asking rent rose 1.0% to $37.71 psf, and the average effective rose 1.1% to $30.82 psf, a strong performance for both rental categories. Indeed, the fourth quarterÂ’s gains stand out in a year of solid rental gains. These rates are up 2.8% and 2.9% year-over-year. VIEW OFFICE LISTINGS >
Retail
The 68-million-square-foot Los Angeles community-neighborhood shopping center market vacancy rate is 6.9% in the first quarter of 2019, according to Reis, up 30 basis points for the quarter and up 80 basis points over 12 months. After finishing 2018 with annual asking and effective rent gains of 2.4% and 2.5% for community-neighborhood center space, average rents rose 0.7% by both measures in the first quarter of 2019. These rates now stand at $33.56 psf and $29.66 psf in the first quarter. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

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CBC Infographics

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