LOS ANGELES—“The office market in general is as healthy or the healthiest that is has been in several years,” Jeff Rinkov, CEO of Lee & Associates, tells GlobeSt.com about the stats from the brokerage firm’s 1Q15 reports. The market had a national absorption of 10.6 million square feet, a stark plummet from the 31.3 million square feet absorbed in 4Q14 and even than the 13.1 million square feet absorbed in the same quarter last year; however, Rinkov notes that vacancies in the quarter also fell by another 10 basis points to 10.9%.

“We are seeing true demand for office growth,” says Rinkov. “In urban areas, we are seeing demand for creative office and adaptive reuse for creative office buildings. A driver for both industrial and office is the whole concept of ecommerce. It seems that ecommerce is the tremendous driver for office space and back-office support space. But one of the challenges of the market today is how difficult it will be for office users to find large blocks of space.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.