Los Angeles Office MarketView Insert Q3 2020

October 15, 2020

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Market fundamentals weakened over the past two quarters as activity mostly halted from March onward. While vacancy increased between Q1 and Q3 2020 by 250 bp, 25.3% of that increase attributed to sublease space. CBRE EA’s Baseline forecast expects Los Angeles to have supply and demand growth at a balanced rate as the market recovers, with office vacancies recovering within 7 quarters of the start of the downturn or by 2022. Given the balanced fundamentals entering this crisis, the region's office market is expected to recover more quickly than in previous recessions.