Large sale and lease deals across Los Angeles County last quarter helped further cement the notion that the county’s office market has recovered.
Downtown Los Angeles continued its tepid recovery in the first quarter of 2014 as developers bet on its future as a bastion of creative office space.
The Tri-Cities submarket saw some of the county’s largest deals last quarter, as investors and tenants alike committed to the area.
After a strong finish last year, Hollywood’s office market took it easy in the first quarter.
The Tri-Cities office submarket showed notable improvement in the fourth quarter as Pasadena reported positive net absorption for the first time all year.
Main events in L.A.’s submarkets in the fourth quarter.
The heat was still on in Hollywood’s office submarket last quarter.
Something unusual happened in the Tri-Cities office market last quarter.
The buzz around downtown Los Angeles might be hot, but the office market was just lukewarm last quarter.
Action in Hollywood during the third quarter might have further emboldened developers, who have already made it the submarket with the most new office space under construction.