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NEARLY 4 MILLION SF OF OFFICE SPACE RETURNED TO MARKET IN THE FIRST QUARTER
The first three months of 2009 saw further deterioration in the regional economy. With housing markets stalled, unemployment at its highest level since the downturn of the early 1990s, and continued problems in the credit markets, the Greater Los Angeles Basin office market experienced
one of its worst quarters ever with approximately 3.9 million SF returned to the market to begin the year. As weak employment figures across nearly all sectors of the economy continue to cause problems throughout the Basin, it already appears that the Basin-wide office market will be severely
challenged in 2009.
Contact Michael Soto at 213.532.3220 for more information.
  OFFLAB09Q1.pdf
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