While Greater Los Angeles office rates dropped $0.21/sq. ft./month FSG quarter over quarter, rates remained $0.21/sq. ft./month FSG above where they were a year ago
Development continued to move along with two projecects completing and two breaking ground.
Los Angeles County unemployment fell six percentage points from 16.8% in August to 10.6% unemployment in November. The unemployment rate decreased since the peak of 20.8% in May, which equates to 723,600 jobs gained.
While absorption and activity in 2020 hit record lows, Q4 began to see a softening of the harsh environment as activity increased and the increasing vacancy slowed