Submarket Snapshot: West Hollywood

Area only saw a marginal decrease in vacancy

Feb.February 02, 2016 05:16 PM

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.


Related Articles

The top sales of last week were all on the Westside

Here are the 5 priciest resi sales in LA County last week

Barings Head of Alternative Investments Anthony Sciacca, and DWS Head of Americas Bob Kendall (Credit: Google Maps)

DWS Group pays $100M for WeHo resi complex

Richard Bloom and a rendering of Lowell Farms Cannabis Cafe (Credit: Lowell Farms, iStock)

Cannabis lounges bloom in WeHo, and not everyone is happy

Jason Illouian and the property (Credit: Faring Capital and Google Maps)

Faring advances plan for 271K sf cancer center where it had eyed boutique hotel

The 2017 LA Pride march in West Hollywood and West Palm Springs (Credit: United Food and Commercial Workers)

The “gayborhood premium:” A look at home prices in LGBTQ-centric areas

Sterling Organization CEO Brian Kosoy and the two Melrose Avenue properties

Sterling Organization buys retail portfolio along booming Melrose Avenue

Steven Witcoff of Witcoff Group, at left, and Howard Lorber of New Valley Group

Witkoff Group and New Valley score $300M refi on WeHo Edition condo-hotel

Richard Neutra’s old residence at 2460 Sunset Plaza Drive

Developers have big plans for a Neutra-designed Hollywood Hills home