Greater Los Angeles’ average asking lease rate decreased by 1.2% year over year ending Q2 2018 at $2.49 per sq. ft.
Despite a fair amount of retail space coming back onto the market, vacancy in Greater Los Angeles remained static at 5.0% quarter over quarter.
Net absorption for Q2 2018 was negative 182,971 sq. ft.
No major shopping centers completed construction during this period, while 609,000 sq. ft. remained in the construction phase.