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2021 Q3 Hollywood Mid Wilshire Office Research Report

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OFFheroHolWil_Q321

Hollywood Mid Wilshire Office Overview

  • Overall vacancy increased another 80 basis points over the quarter to 25.2%.
  • Over 61% of the vacant office space in this market is in Mid-Wilshire.
  • Sublease availability retracted to 1.4%, down from a high of 2% in Q1.
  • Average asking rates are down over the year in Hollywood and Mid-Wilshire by 5.2% and 12.7%, respectively.
  • There was 110,334 SF of new leasing in Q3, more than triple the amount of activity in Q3 2020.
  • The digital streaming industry will help keep the Hollywood & Mid-Wilshire office market healthier compared to other areas of greater Los Angeles.

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2021 Q3 Hollywood Mid Wilshire Office Research Report

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