New Times was represented by Tim Macker and Mark Berman of Coldwell Banker Westmac. The landlord, Arden Realty Inc., was represented in-house by Troy Holme.
LA's office vacancy rate will decrease in upcoming months, dropping to a predicted 11.7% in mid-2003, according to a new report published by Delta Associates research and consulting firm. A cutback in the number of new development projects will be a major factor in the decrease, local real estate experts say. The county currently has an inventory of approximately 302.5 million sf of office space and only about 8.2 million sf is currently in the pipeline, according to Delta Associates VP and research director Tong Saetia.
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