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Originally Posted by LAMetroGuy
The vacancy in the Long Beach area remained among the lowest in the county, falling to 10.6 percent from 11 percent the previous quarter, according to Kimball Wasick, a Cushman & Wakefield senior director.
The World Trade Center downtown has two yet-to-be announced leases, taking office space in the 27-floor tower to 93 percent of its 560,000-square-foot capacity, Wasick said.
The county's Westside market, including West L.A., Santa Monica and El Segundo, has shown the greatest gains since the beginning of the year, falling nearly 3 points to 14.9 percent, Wasick said. The Westside, the area in L.A. hardest hit by the dot-com crash, was the softest in the county at the end of 2002.
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It's nice to know that LB isn't burdened with so much unleased space. Seems like the last time I saw stats for the area, it was way up there with double digit vacancy rates. I was worried it was going to end up like the LAX area (esp along Century Blvd), which has had really high vacancies for what seems like decades.
And West LA at 14.9 at least won't be as much a big counter deadweight to DT. However, DT (at least in another set of stats I saw not long ago) still is listed as having way too much unused space, about 4% higher than the westside, 7% higher than LB. But if DT LB's office bldgs can get in better shape, maybe there's hope for DT LA's highrise bldgs too.
As for the Douglas proj, that sounds like a great shot in the arm for the north LB area. It will be the first somewhat large amt of new (non-highrise) housing to be built in SE LA County in a long, long time. Up til now, such devlmpt has been exclusive to southern OC or the hoods near the LA/Ventura border.