Figure

Los Angeles Retail MarketView Insert Q4 2020

February 1, 2021

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  • The Greater Los Angeles (GLA) retail market's negative 325,477 sq. ft. net absorption was attributed to small to mid-sized declines in every submarket, except in the Great Downtown, San Gabriel Valley and West Los Angeles submarkets which experienced positive absorption.

 

  • Total vacancy saw a 15 bps quarter over quarter increase and average asking lease rates declined $0.25 per sq. ft. per month quarter over quarter to $2.61 per sq. ft.

 

  • Greater Los Angeles has 1.3 million sq. ft. of retail space under construction, with prolonged estimated delivery dates due to delays caused by the COVID-19 pandemic.