2021 Q4 Downtown Los Angeles Office Research Report
- The Downtown Los Angeles availability rate of 29.1% continues to be the highest of any Los Angeles office market.
- High vacancies caused the Class A average asking rent to decrease by 4% over the year.
- Net absorption for 2021 finished at negative 674,760 SF, with 61.3% of this occupancy loss in the Financial District.
- Activity slowed with 174,382 SF leasing in Q4, the lowest quarterly amount recorded in 2021.
- Recovery is lagging in Downtown Los Angeles compared to other submarkets that have more flexible low-rise product as high-rise demand remains lower.