Search
 

Low Vacancy Brings National Retailers to DTLA

LOS ANGELES—The retail vacancy rate in Downtown Los Angeles fell more than 51% at the end of 2016, thanks to the focus from national and international retailers.

Carol Schatz Carol Schatz is the president and CEO of the DCBID.

LOS ANGELES—The retail vacancy rate in Downtown Los Angeles plummeted more than 51% at the end of 2016 to 4%, according to the fourth quarter report from the Downtown Central Business Improvement District. Rental rates are following suit. In the fourth quarter, average rents were $2.64 per square foot, a 2.7% increase year-over-year. The activity make the retail sector one of the most active asset classes in Downtown Los Angeles. To find out more about the activity in the retail sector and where the market is headed, we sat down with Carol Schatz, president of the DCBID, for an exclusive interview.

GlobeSt.com: The decrease in retail vacancy in 2016 was impressive. What drove down the retail vacancy last year?

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.