LOS ANGELES—In 2016, the L.A. office market hit its peak. Theoffice investment market broke the record for a 10-year total salesvolume, with a total of $9.6 billion in sales volume, according toa joint study between Commercial Café andYardi Matrix. The spike in activity was even more impressiveconsidering that 2015 saw a decrease in sales volume, and 2014, theprevious peak, raked up only $6 billion in sales volume bycomparison.
“The L.A. office market experienced a bounce back year in 2016after a slight decline in 2015 in sales volume and total squarefeet,” Chris Nebenzahl, a senior analyst at Yardi, tellsGlobeSt.com. “Strong demand for office space was generated fromcontinued employment growth especially in sectors such as educationand health services and financial activities. The continuedrevitalization of Downtown L.A. has increased demand for assets andincreased commercial property valuations.”
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