Inside Downtown LA's Waning 2Q16 Office Performance

While the office market in Los Angeles has been slowly becoming more active, the market has poor leasing turnout in the second quarter of the year. Vacancy rates were flat at 19.9%, and leasing activity was nearly half of what it was last year, at 650,000 square feet year-to-date. However, net absorption was positive with 122,000 square feet absorbed in the market. The Los Angeles office market as a whole has declining vacancy rates for the quarter and some submarkets, like West LA and the Tri-Cities market, had phenomenal activity. To find out why DTLA waned this quarter and what we can expect from the market for the remainder of the year, we sat down with Donald N. Noland, senior managing director at Cushman & Wakefield, for an exclusive interview.

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