The office asset class has gone through a slow recovery since the onset of the pandemic and we're seeing that trend play out in the medical component sector.
A recent report from JLL revealed mixed results for the Los Angeles outpatient medical market. Starting with some good news, the vacancy rate sat at 9.6 percent for the second quarter. That represents the lowest mark since 2019, before the pandemic hit the U.S. Plus, sublease vacancy has remained under one percent.
Antelope Valley's total vacancy was 12 percent. That rate only trailed behind Conejo Valley (12.1 percent), Santa Clarita Valley (15 percent), and Downtown Los Angeles (23.7 percent). The Mid-Wilshire and Mid-Cities submarkets hosted the lowest vacancy rates at five percent and 5.8 percent, respectively.
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