Greater Los Angeles Retail Overview
The Los Angeles County retail sector posted its eighth consecutive quarter of negative net absorption, bumping up the overall vacancy rate 20 basis points to 6.3%. Vacancy in Lifestyle/Festival Centers remains the highest throughout the region at 10.0%. Construction activity remains active in the county with 722,989 SF currently underway, meanwhile 177,272 SF of new supply was added to the market. Loosened COVID-19 restrictions made way for businesses to reopen in large capacities, as more consumers are looking for normalcy and seeking social interaction.