Southern California Commercial Real Estate:
Office Market May Be Rebounding
Good News For Southern California Commercial Real Estate As L.A. County Vacancy Rates Drop and Average Rents Climb
Good news for Southern California commercial real estate as 2nd quarter figures show office vacancy rates moved down a bit. Now this doesn't mean that landlords are home free … most markets are still considered to have the tenants in the driver's seat. However, it is movement in the right direction for a change.
Read about it in this LA Times article by Roger Vincent:
Roger Vincent – "Southern California's long-languishing office market finally managed to utter a convincing peep in the … COMMERCIAL REAL ESTATE QUARTERLY REPORT…" Los Angeles Times
Southern California Commercial Real Estate Has A Long Way To Go
As we've been seeing for a long time now, the majority of transactions are lease renewals, and not new space being rented. As with everything else, Southern California commercial real estate is tied to the jobs market. Until we see improvement there … and significant improvement … all good news must be taken with a grain of salt.
Southern California Commercial Real Estate