The numbers say Hollywood had a slow first quarter, but it would be hard to tell from a landlord’s or developer’s perspective.
The Los Angeles County office market continued to heat up for its third consecutive quarter, helping reinvigorate construction and redevelopment across the area to levels last seen five years ago.
The Tri-Cities office market slowed a bit in the first quarter as tenants vacated space, but landlords remained bullish in the face of the setback.
The downtown L.A. office market saw gains in the first quarter as more than 110,000 square feet were absorbed by a mix of relocations and internal expansion.
A flurry of small lease deals last quarter helped turn around what had been a year of rising vacancy in the Hollywood office market.
The Los Angeles County office market continued its tepid but steady recovery last quarter.
Downsizing defined downtown Los Angeles last quarter.
DEVELOPMENT: City mulls project for east of Promenade.
Santa Monica takes a new development direction with a proposed project east of the Third Street Promenade.
LEASE: Caesars Interactive division signs deal for top floor on Colorado Avenue.
An online and mobile gaming division of casino operator Caesars Entertainment Corp. in Reno, Nev., is preparing a large expansion in Santa Monica.
ACQUISITION: $14 million property among 800-plus sold in L.A. this year.
The sale last month of a 152,000-square-foot Compton industrial building, fully leased to Kroger Co.’s Ralphs and Food4Less divisions, was yet another spark in a particularly hot market.