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
- Q1 - 2021
- Q1 - 2022
- Q1 - 2023
Leasing Market OverviewMEASURING Q1 2023
Vacancy rates in Downtown Los Angeles are currently at 8.3%, which is higher than the retail market average of 5.3%. Over the past 12 months, there was a net absorption of -310,000 SF, indicating a challenging time for the retail market.
However, a handful of tenants have still managed to sign leases in recent months, including Silverback Coffee, which leased 6,800 SF at the 400 S Hope office building on Bunker Hill in November. Star BBQ committed to 7,000 SF at 750 S Broadway in the Historic Core, backfilling the space previously occupied by Los Angeles Biergarten in May 2022.
SNAPSHOT OF LEASES SIGNED
|No.||Signed Date||Start Date||Address||SF Leased||Rent/SF/Mo||Months on Market||Leasing Rep Company|
|1||Jan-23||Feb-23||727 W. 7th St||4,300||5||9||Colliers|
|2||Jan-23||Feb-23||1329-1333 Santee St||1,500||1.6||0||Lux Equities, LLC|
|3||Jan-23||Feb-23||257-263 S. Spring St||5,594||2.5||27||Kennedy-Wilson Properties, Ltd.|
|4||Feb-23||Mar-23||908 Santee St||1,600||2.5||1||South Park Group, Inc.|
|5||Feb-23||Mar-23||1200 S. Grand Ave.||1,971||4||37||Kennedy-Wilson Properties, Ltd.|
|6||Feb-23||Mar-23||1100 S. Hill St.||5,812||3.5||26||Elevate Retail Group|
|7||Feb-23||Mar-23||951 Crocker St||1,500||1.47||9||realestatela.com|
|8||Mar-23||Apr-23||1325-1355 Palmetto St||3,160||3.57||14||Union Cowork|
|9||Mar-23||Apr-23||255 S. Santa Fe Ave||5,377||2.75||9||Figure 8 Realty|
|10||Mar-23||Apr-23||406-414 Pico Blvd||3,205||2.5||4||Royal Real Estate|