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
- Q2 - 2021
- Q2 - 2022
- Q2 - 2023
Over the past twenty years, the local residential community has significantly grown due to the continuous construction of multifamily buildings. This long-term trend has helped mitigate the impact of reduced office utilization. Although many workers have yet to return to the office, there has been a noticeable return of patrons to theaters and sporting events. Moreover, there is growing interest in the vacant restaurant spaces that were left behind during the initial stages of the pandemic. Additionally, the expansion of multifamily housing has remained steady.
The vacancy rate in the area is generally higher than the average for the metropolitan region. This is primarily due to the presence of outdated and nearly obsolete properties. However, some of the restaurant spaces in the Financial District, Arts District, and South Park that were vacated at the beginning of the pandemic have been leased out. It’s worth noting that more restaurants have closed than originally planned to open.
SNAPSHOT OF LEASES SIGNED
|No.||Signed Date||Start Date||Address||SF Leased||Rent/SF/Mo||Months on Market||Leasing Rep Company|
|1||Apr-23||Apr-23||923 E 3rd St||4,209||2.25||6||Amenities Development Co.|
|2||Apr-23||May-23||580 S. Alameda St||4,500||2.15||3||Kidder Matthews|
|3||Apr-23||May-23||116-118 E. 5th St||1,500||2.00||1||realestatela.com|
|4||Apr-23||Jun-23||2135-2143 Bay St||5,600||3.95||8||Zacuto Group|
|5||May-23||Jun-23||888 S. Figueroa St||1,482||5.00||3||Brandon Cohan Real Estate|
|6||May-23||Jul-23||250 E. 1st ST||7,862||3.75||23||CBRE|
|7||May-23||Jun-23||500-530 Molino St||1,500||3.20||5||COMPASS|
|8||Jun-23||Jun-23||1100-1108 S. Main St||2,800||1.25||8||realestatela.com|
|9||Jun-23||Jun-23||1325-1355 Palmetto St||3,662||3.25||51||Union Cowork, Funf Ventures|
|10||Jun-23||Jun-23||1055 Wilshire Blvd||1,312||2.75||2||Kidder Matthews|