The Real Deal Los Angeles

Submarket Snapshot: Bunker Hill

Area saw 22.5 percent total vacancy in the fourth quarter
By Hannah Miet | January 27, 2016 05:59PM

One Bunker Hill

The One Bunker Hill building at 601 West Fifth Street

Bunker Hill had the highest total vacancy rate of any Downtown submarket in the fourth quarter. A whopping 22.5 percent of its office space was empty, more than the 21.8 percent that was empty in the third quarter.

Downtown as a whole fared much better in the fourth quarter, with a total vacancy rate of 17.9 percent.

There are 11 office buildings in Bunker Hill with 3.3 million square feet of space. Those buildings saw 205,200 square feet of leasing activity in the fourth quarter, and negative absorption of 55,800 square feet.

There was no construction completed in Bunker Hill last quarter, but there was 78,500 square feet of it underway.

The biggest sale in the submarket was Rising Realty Partners acquisition of One Bunker Hill at 601 West Fifth Street for $92 million.