Vacancy rates are on a year-over-year upward incline, while net absorption returns were positive this quarter. New projects were opened to the market but are not yet occupied. A few major tenants are boosting occupancy of distribution space, while smaller businesses are slowly shutting down.
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Vacancy rates are up in all SoCal sectors and counties, aside from Orange County office and a slight year-over decrease for Los Angeles industrial. Net absorption remains negative for San Diego and Orange County but turned positive for Los Angeles and Inland Empire industrial in 2025.
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The California Supreme Court holds rent provisions based on occupancy levels are enforceable.
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Southern California’s commercial market softened even further in the first quarter of 2024.
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Southern California’s commercial market softened even further in the fourth quarter of 2023.
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While office and retail both experienced increased vacancies in 2021, industrial vacancies have hit historic lows.
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While the seas have calmed following the steep losses of the 2020 recession, the 2021 commercial...
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Read the details on how industrial, office and retail are faring in SoCal’s major markets during this 2020 recession.
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