Magnum News

Los Angeles’s Vacancy Decreases to 5.0%

Published on Jan 14 | by Magnum Properties

Los Angeles’s Vacancy Decreases to 5.0%
Net Absorption Positive 1,831,948 SF in the Quarter

The Los Angeles Industrial market ended the third quarter 2013 with a vacancy rate of 5.0%. The vacancy rate was down slightly over the previous quarter, with net absorption totaling positive 1,831,948 square feet in the third quarter. Vacant sublease space decreased in the quarter, ending the quarter at 2,052,748 square feet. Rental rates ended the third quarter at $7.52, an increase over the previous quarter. A total of five buildings delivered to the market in the quarter totaling 767,673 square feet, with 721,181 square feet still under construction at the end of the quarter. ..

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