Tenant migration is helping to chip away at Downtown CBD vacancy

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Downtown vacancy has decreased to 16.6 percent from 19.1 percent since 2013, driven by robust tenant migration, countervailing light demand from existing legal and financial services tenants, which continue to seek efficiency and have been cautious to take on additional space.

Downtown’s expanding residential, retail and entertainment base has helped attract companies from outside the CBD, including creative tenants.

Tenant migration will drive Downtown’s evolution by broadening the tenant base across sectors and will lessen the markets dependence on mature industry clusters.COW_Los Angeles_office_May 18th 2016

For more information contact Henry Gjestrum.

Visit the JLL Los Angeles Research webpage for additional market insight.

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