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Los Angeles Retail MarketView Insert Q3 2020

October 15, 2020

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  • The Greater Los Angeles (GLA) retail market's negative 416,459-sq.-ft. net absorption was attributed to small to mid-sized declines in every submarket, except the Antelope Valley, Southeast Los Angeles and Tri-Cities.
  • Average asking lease rates declined $0.14 per sq. ft. per month quarter over quarter to $2.86 per sq. ft, which was attributed to the slight increase in vacant space.
  • Greater Los Angeles had 1.5 million sq. ft. of retail space under construction, with about 1 million sq. ft. expected to be completed by year end given there are no further COVID-19 related delays.