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Record Vacancies, Subleasing in LA Office Market

Available sublease space soars to 10.7M SF, nearly 5% of current inventory.

While net absorption treaded water in the Los Angeles office market in the third quarter, vacancies climbed to a record of 20% and available sublease space surged to a new high of 10.7M SF, which is nearly 5% of the current office inventory, according to Newmark’s Q3 report for the industry.

Newmark said cost-cutting measures by the tech sector is inducing tech players to reduce their office footprints in LA.

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Jack Rogers

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