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Nick Griffin Nick Griffin

After several years of slow growth, the office market in Downtown Los Angeles has finally hit is stride. According to the recent report from the DCBID, the office vacancy rate has decreased by 3.4% year-over-year to 17%, a significant milestone for the submarket. In addition, rents have increased 5.3% year-over-yea to $3.66 per square foot for class-A space, leasing activity is up 25% year-over-year to 2.3 million square feet year to date and absorption for the third quarter was up 486% with 230,000 square feet of net absorption.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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