The Real Deal Los Angeles

Submarket Snapshot: West Hollywood

Area only saw a marginal decrease in vacancy
pacific design center weho

The Pacific Design Center’s Red Building in West Hollywood

The 30 buildings in West Hollywood’s office market saw 18 percent vacancy in the fourth quarter, a teensy decrease from 18.3 percent in the third, according to a report by Colliers International.

The submarket has 2.8 million square feet of office space, which saw 92,100 square feet of leasing activity.

Net absorption was low, but not negative: 8,500 square feet.

No new construction was completed in the fourth quarter but 64,000 square feet was underway.

The average asking rent was $4.20 a square foot a month, 15 cents higher than the Westside average for the quarter.