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INCREASED LEASING ACTIVITY A HOPEFUL SIGN THAT THE WORST MAY BE OVER
Nine months into 2009, the Greater Los Angeles Basin office market continued to see rising vacancy, declining average asking rental rates, and lower construction activity. Leasing activity finally increased after seeing all-time lows during the first half of the year. While the region’s office market remains weak, it becomes more apparent that any near-term economic growth will be a jobless recovery. The increase in leasing activity and the continued decline in the rate of space givebacks may be an indication that the worst part of the current office market downturn is already behind us.
Contact Michael Soto at 213.532.3220 for more information.
  OFFLAB09Q3.pdf
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