Submarket Snapshot: West L.A.
The West L.A./Olympic Corridor submarket saw vacancy drop in the fourth quarter to 9.8 percent, down from 15.5 percent in the third. It beat out the Westside’s vacancy rate of 13.2 percent, according to data from JLL.
The 3.3 million-square-foot submarket also saw positive absorption of 261,083 square feet, bouncing back from 17,100 square feet of negative absorption in the previous quarter.
Asking rent averaged $3.93, up from $3.59 in the previous quarter, but lower than the Westside average of $4.49.
No construction was completed.