MARKET OVERVIEW
Office
Wilshire Grand
• Office vacancy rates continued to fall, dropping below
17%, with continuing positive net absorption.
• Co-working operator Real Office Centers (ROC) signed a
27,000 sq ft lease at Atlas Capital’s ROW DTLA project.
• K-SWISS Global Brands leased 23,000 sq ft at
PacMutual and will relocate their North American
HQ from Westlake Village next year.
• Office building transactions included the iconic LA
Times HQ, which sold to Onni Group for $105M.
Q3 2016
Q3 2015
Vacancy Rate
16.8%
17.8%
Class A Rent Per Sq Ft
$3.32
$3.06
Overall Rent Per Sq Ft
$3.30
$3.06
YTD Net Absorption
185,142
292,014
YTD Leasing Activity
1,665,418
2,483,470
2.8m
SQUARE FEET OF OFFICE SPACE
UNDER CONSTRUCTION
723,000
PROPOSED
Source: CBRE
Significant Real Estate Sales
Property Name
Address
Buyer
Seller
Price
Los Angeles Times
Multiple Properties
Onni Group
Tribune Media Company
$105m
Chase Plaza
888 W 6th St.
Copperfield Investments
The Somerset Group
$54.2m
City Lights on Fig
1300 S Figueroa St.
Bycor Ltd.
State Farm Mutual
$30m
Norton Building
755 S Los Angeles St.
Urban Offerings
Safir LLC
$17.6m
The Mint
1136 W 6th St.
Holualoa Companies
Holland Partner Group
$17.3m
Manufacturers Bank Bldg
200 S San Pedro St.
Neman Real Estate Investments
Pedro LLC
$14.3m
Downtown Center Business Improvement District
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