Submarket Snapshot: Torrance

Los Angeles /
Feb.February 17, 2016 05:25 PM

Some in the industry speculate that as the creative office wave spreads further into the South Bay, Torrance will be hit next.

It could happen, but in the meantime, the 1.9 million-square-foot offie submarket is seeing high vacancy.

Torrance’s office space was 24.1 percent vacant in the fourth quarter, according to data from JLL, down from 25.3 percent in the third. Its vacancy rate was higher than the fourth-quarter South Bay average of 20.5 percent.

However, like most submarkets across Los Angeles County, Torrance saw its asking rents rise in the fourth quarter. Average asking rent was $2.55, compared to $2.55 in the third quarter and $2.26 in the same period a year earlier.

No office construction was completed in Torrance in the fourth quarter.


Related Articles

arrow_forward_ios
TGS Management's Fred Taylor and FivePoint's Daniel Hedigan
TGS Management pays $240M to buy 42 acres for Irvine data hub
TGS Management pays $240M to buy 42 acres for Irvine data hub
Susan Phillips, a professor of environmental analysis and director of Pitzer College’s Robert Redford Conservancy for Southern California Sustainability and San Bernardino County Supervisor Curt Hagman with warehouses in San Bernardino county
IE warehouse boom generates call for building moratorium
IE warehouse boom generates call for building moratorium
Oaktree’s  Howard Marks with 444 S. Flower Street (Oaktree, Getty)
Coretrust loses DTLA tower to Oaktree in foreclosure
Coretrust loses DTLA tower to Oaktree in foreclosure
Tova Capital's Zach Boren along with 205-233 East Anaheim Street in Long Beach (Getty, Tova Capital, Google Maps)
Tova Capital buys 35K sf shopping center in Long Beach for $6.2M
Tova Capital buys 35K sf shopping center in Long Beach for $6.2M
HFH's William Allen, 217 S Barranca Street, West Covina
Family office pays $38M for West Covina apartments
Family office pays $38M for West Covina apartments
Compass' Scott Tamkin with Senderos Canyon
263-acre Bel-Air canyon up for auction with $39M starting bid
263-acre Bel-Air canyon up for auction with $39M starting bid
RBM's Hiro Kobayashi with 11264 La Grange Avenue
RBM buys film company HQ in Sawtelle for undisclosed price
RBM buys film company HQ in Sawtelle for undisclosed price
LA Offices vs LA Warehouses
LA County office vacancy rises to 16.5%, study finds
LA County office vacancy rises to 16.5%, study finds
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...