The Real Deal Los Angeles

Submarket Snapshot: Culver City’s office market in Q1 2016

Average rent in Q1 significantly lower than Westside average

April 06, 2016 05:00PM
By Hannah Miet

  • Print
800 Corporate Pointe

The office tower at 800 Corporate Pointe in Culver City

Culver City, which has an inventory of 4.6 million square feet of office space, saw 108,751 square feet of positive absorption in the first quarter of 2016, according to a report by Transwestern.

Its total vacancy rate was 10 percent, lower than the Westside average of 12 percent.

But it also took in less rent money. The average asking rent in Culver City was $3.43 in the first quarter, well below the West Los Angeles average of $4.52, and nothing to sneeze at if you’re Beverly Hills.