Is Mid-City the Next Development Hotspot?

LOS ANGELES—As we head into the second quarter of 2014, it’s clear that Los Angeles’ recovery from the effects of the Great Recession, albeit slow, are steady. With the city’s many prime submarkets capping out in vacancy and available space, neighboring secondary markets are ripening for an influx of tenants unwilling to keep up with rising rental rates. As new public- and private-driven economic growth and development occur in the city’s secondary markets, retail and commercial space in these areas have already seen a surge in new tenancy, as well as an increase in rental rates, sales volume, and space inquiry.

Mid-City is one of those submarkets seeing strength. Mid-City is a neighborhood in Central Los Angeles that includes Crestview, View Park, Baldwin Hills, Lafayette Square, Little Ethiopia, Picfair Village and Victoria Park. It is bordered by Pico Blvd to the north, Western Avenue on the east, Slauson Avenue to the south, and La Cienega Boulevard to the west.