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
Landquist's David Meyer and a rendering of the project (Lundquist, LA County via LABJ)

Lundquist Institute approved to build 15-acre biotech park outside Torrance

Lundquist Institute approved to build 15-acre biotech park outside Torrance
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
Heather Crossner and the site (Credit: Google Maps)

Bridge Development plans distribution center outside Torrance

Bridge Development plans distribution center outside Torrance
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
Brookfield Asset Management CEO Bruce Flatt

Brookfield scoops up Carson industrial properties for $64M

Brookfield scoops up Carson industrial properties for $64M
arrow_forward_ios

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

Loading...