DOWNTOWN LOS ANGELES
Arts District, Chinatown, Civic Center, Fashion District, Financial District, Little Tokyo, Historic Downtown LA, South Park, and more.
Rent Rate (sf/mo)
Leasing Activity SF
Vacant Available SF
SOURCE: CoStar
- Q3 - 2022
- Q3 - 2023
- Q3 - 2024
Leasing Market Overview
MEASURING Q3 2024Downtown LA is showing signs of both opportunity and caution. Average retail rents have held steady at $2.47 per square foot, despite the vacancy rate climbing to 10%, driven by an influx of available space totaling 1.11 million square feet. However, leasing activity has picked up, particularly in areas that offer high pedestrian traffic or proximity to transportation hubs. The volume of new deals suggests businesses are interested in the area’s competitive pricing, even though landlords may need to offer incentives to attract tenants. Investors can focus on well-positioned retail properties, while tenants can capitalize on increased availability and potentially secure high-visibility locations at competitive rates.
SNAPSHOT OF LEASES SIGNED
| No. | Signed Date | Start Date | Address | SF Leased | Rent/SF/Mo | Months on Market | Leasing Rep Company |
|---|---|---|---|---|---|---|---|
| 1 | Jun-24 | Jul-24 | 1301-1309 S Los Angeles St | 1,200 | $2.92 | 1 Mo | realestatela.com |
| 2 | Jun-24 | Jul-24 | 1150-1156 S Main St | 2,000 | $1.25 | 5 Mos | realestatela.com |
| 3 | Jun-24 | Jul-24 | 819 Santee St | 981 | $1.75 | 8 Mos | Cannon - Garment Lofts |
| 4 | Jun-24 | Jun-24 | 900-932 S San Pedro St | 1,500 | $2.17 | 1 Mo | Kayhan Shakib |
| 5 | May-24 | Jun-24 | 1155-1157 S Main St | 4,500 | $1.25 | 3 Mos | realestatela.com |
| 6 | May-24 | Jun-24 | 1200 S Wall St | 1,000 | $2.00 | 2 Mos | realestatela.com |
| 7 | May-24 | Jun-24 | 630 W 6th St | 1,085 | $4.50 | 2 Mos | Quality Living Services, Inc |
| 8 | Apr-24 | May-24 | 1415-1467 Maple Ave | 924 | $1.62 | 1 Mo | Aflalo Equites, LLC. |
| 9 | Apr-24 | May-24 | 1206 S Maple Ave | 1,109 | $1.50 | 8 Mos | Investors Property Services |
| 10 | Apr-24 | May-24 | 1055 Wilshire Blvd | 2,045 | $3.00 | 59 Mos | Kidder Mathews |
SOURCE: CoStar