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LA BASIN OFFICE MARKET EXPERIENCES -7.5 MILLION SF OF NET ABSORPTION IN 2009
The Greater Los Angeles Basin office market ended 2009 with rising vacancy, declining average asking rental rates, and lower construction activity. With an additional 1.07 million SF returned to the market vacant in Q4, net absorption in 2009 totaled -7.5 million SF. This was nearly a 60% increase over the -4.7 million SF of net absorption reported Basin-wide in 2008. As the region’s office market continues to see anemic job growth, 2010 is expected to see more of the same weak
fundamentals with mounting distress at the top of everyone’s mind.
Contact Michael Soto at 213.532.3220 for more information.
  OFFLAB09Q4.pdf
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