The Real Deal Los Angeles

Submarket Snapshot: Downtown Long Beach’s office market in Q1 2016

Area sees negative absorption

April 25, 2016 05:05PM
By Hannah Miet

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The office complex at 100 West Broadway in Long Beach

The 4.3 million-square-foot office market in Downtown Long Beach saw 18 percent vacancy in the first quarter of 2016, according to a report by Transwestern.

It had slightly less vacancy than the South Bay market as a whole, which was 18.6 percent vacant. 

Office rent averaged $2.22 a square foot a month, compared to the $2.25 South Bay average.

The area saw negative absorption of 45,892 square feet in the first quarter. No construction was underway.