1. The information furnished regarding rent roll, income, expenses and similar data has been submitted to us by others and thus we cannot make any representations as to its accuracy.
The information furnished regarding property for sale, rental or financing is submitted subject to errors, omissions, change of price or other conditions, prior sale, lease or withdrawal without notice.
Class A Office Buildings
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
$5.50
3Q16 3Q15 3Q14 1-Year 2-Year
Vacancy Vacancy Vacancy Rent Rent
W/Sublease W/Sub W/Sub Increase Increase
190th
/Torrance 20.6 % 19.7 % 17.7 % 1 % 0 %
Beverly Hills 12.2 % 7.4 % 8.4 % 0 % 10 %
Brentwood 8.5 % 9.1 % 12.7 % 0 % 11 %
Century City 9.4 % 10.0 % 11.6 % 3 % 10 %
Downtown Tier One 14.8% 15.2 % 17.9 % 5 % 2 %
El Segundo 15.8 % 17.8 % 21.4 % 13 % 13 %
Encino-ShermanOaks 11.4 % 9.7 % 11.0 % 5 % 11 %
Long Beach-Cerritos 16.5 % 18.5 % 16.6% 2 % 7 %
Miracle Mile 9.3 % 11.4 % 12.1 % 6 % 31 %
Olympic Corridor 7.0 % 6.0 % 7.7 % 9 % 4 %
Pasadena 10.7 % 11.3 % 13.6 % 3 % 10 %
Santa Monica 19.4 % 17.3 % 9.9 % 7 % 16 %
Westwood 12.0 % 11.2 % 10.9 % 6 % 19 %
Woodland-Calabasas 13.5 % 14.8 % 11.8 % 3 % 0 %
LOS ANGELES - 3QTR2016
OFFICE LEASING
Prepared by Cyrano Adlawan
Assistant Vice President
cadlawan@stone-miller.com
NEWS
Warner Music leases Shorenstein’s Ford Factory project in Arts
District of downtown LA – 257K sf
Douglas Emmett continues to buy West LA buildings:
4 buildings in Westwood, 233 Wilshire SM from Equity Office
12100 Wilshire Brentwood from Hines
Tishman Speyer developing one of the last office parcels in Playa
Vista – The Brickyard, 425K sf to be completed 2016.
Equity Office buys Howard Hughes Center from Hines.
Equity Office/Blackstone sells 5 buildings to Jade Enterprises.
BEVERLY HILLS VACANCIES GROW
Many office buildings have at least one full floor vacant
Maple buildings, over 400K sf available
8942 Wilshire LaPeer 83K sf, entire bldg. available
9830 Wilshire (Sony Music, former CAA) 62K sublease
SANTA MONICA LARGE VACANCIES
26 properties had over 20K sf available – total 1.825m sf
2qtr16 - 25 properties totaling 1.97m sf
1qtr16 - 29 properties totaling 1.8m sf