Shamrock Plaza Professional Office - Agoura Hills & Calabasas Chamber Event

Los Angeles Class A Office Vacancy Recovery! Are We There Yet?

Optimism is echoed as compared to the previous quarters by many office investors and business owners. A recent leasing survey by local real estate professionals show lease transactions consummating but at a steady and slow pace. Renewals by Tenants are keeping the vacancy factor constant as long as Tenants are not leaving. We are not seeing many new businesses located in the local area making sideways moves. Many Landlord Leasing Representatives are targeting quality tenants located just outside the local market in hope of brining them in. Businesses that have weathered the storm by now, are able to take a slight breath as the overall sluggish economic moves in a positive direction but at snails pace.  Construction has yet to be seen, however there is buzz out there that projects are going to begin. 

Los Angeles Business Journal Article