Los Angeles Retail Market Outlook 2Q 2017
In the second quarter of 2017, the Los Angeles retail market remained strong with rising average asking rents. The average asking rent closed the quarter at $2.78/SF, up 3.0% over the prior quarter and 6.5% from last year. The delivery of completed new construction to the market has driven up the vacancy rate. Vacancy inched up 10 basis points over the quarter to 4.3%, up 40 basis points from last year at this time.