The Los Angeles Studley Report for the third quarter shows that vacancy rates for traditional office properties in Los Angeles have remained stagnant again as they have for the past seven quarters. Overall, vacancy rates for office properties stand at 19.4% and 20.6% for class-A properties.
“Given the uncertainty in the broader economy and the ample opportunities available to tenants, landlords are eager to retain tenants,” says Mike Catalano, Studley EVP and branch manager of the firm’s West Los Angeles office. “This mindset dovetails perfectly with companies’ hesitancy to take on the additional expenditures associated with relocations...”Office Vacancy Stagnant for Seven Quarters
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