DTLA Office Rents Climb as Occupancy Falls

The Downtown Los Angeles office market is an enigma, and the fourth quarter report from the DCBID is a perfect example of the market dynamic. In the fourth quarter, the vacancy rate increased 9.6%, while the class-A lease rate also increased 5.4%. Leasing activity clocked in at 3.8 million square feet, while net absorption was negative 4,305 square feet.

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