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Report: LA Office Vacancy Around 18%

LOS ANGELES- Vacancy rates in Central, West, South, North Los Angeles and the Tri-City districts all ranged between 16% and 20% through the first quarter of the year, according to the latest report from Cushman & Wakefield.

By Peter Landau | Updated on April 17, 2002

LOS ANGELES-Cushman & Wakefield have released statistics for office space in the Los Angles County districts for the first quarter of 2002. Vacancy rates in Central, West, South, North Los Angeles and the Tri-City districts all ranged between 16% and 20%.

In LA Central, which consists of Koreatown and Chinatown, the Financial District, City of Industry, City of Commerce, Hollywood and more, there are a total of 301 office buildings. The overall vacancy rate was 18.6% for the first quarter of 2002, with a net absorption of 307,521 sf.

For LA North, with cities such as Simi Valley, Westlake Village, Encino, and Van Nuys among others, office buildings totaled 355. Vacancy rates overall reached 18.1% in the first quarter 2002, with a net absorption rate of negative 163,710 sf.

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