The greater Portland office market faced continued challenges in Q4 2024. During the quarter, tenants vacated more than 262,000 square feet, bringing the overall vacancy rate to 24.4%. While the market-wide vacancy rate has increased by more than three percentage points in the last 12 months, Q4 marks the third consecutive quarter in which the pace that vacant space has come back to the market has slowed. Vacancy rates remain the highest in the Central Business District (CBD) at 34.7%. In the whole of 2024, net absorption surpassed negative 1 million square feet in the CBD. In the CBD Perimeter, vacancy rates fell by 40 basis points to 27%. Most notably, the Clark County submarket experienced a second consecutive quarter of positive net absorption, driving the vacancy rate to 8.3%.
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Las Vegas Office Market Report Q4 2024
March 24, 2025 - After four consecutive quarters of increasing vacancy, Southern Nevada’s office market vacancy decreased to 11.8% this quarter. No new office projects were completed in Q4 2024, and net absorption rebounded to 126,238 square feet, the market’s highest net absorption since the second quarter of 2023. In addition, the weighted average asking rental rate for office space increased to $2.68 PSF FSG.
Santa Monica 2029: Entitlement Clarity, Zoning Upside, and a Reset Housing Market
June 12, 2025 - Santa Monica is no longer the entitlement dead zone it once was. Backed by aggressive state housing mandates, the city has rezoned key corridors, opened up density, and created real paths to multifamily scale. This report breaks down where the growth is going, how zoning has shifted, and what it means for developers, builders, and investors looking to get ahead of the next wave of housing in one of California’s most supply-constrained coastal markets.
Signs of Stabilization: Los Angeles Office Market Mid-2025
September 15, 2025 - The Greater Los Angeles office market posted mixed results in Q2 2025, with leasing activity holding steady at 7.0 million square feet year-to-date—mirroring the first half of 2024—but overall vacancy rising slightly to 24.4% Finance, legal, and healthcare tenants drove demand, while technology, media, and entertainment remained cautious in committing to long-term space strategies. Sublease availability fell to 4.2%, its lowest level in three years, signaling that much of the excess pandemic-era space has been absorbed Average asking rents increased 1.8% year-over-year to $3.92 per square foot per month, with Class A space commanding $4.22. Roughly 2.3 million square feet remain under construction, concentrated in West Los Angeles and Hollywood, with most completions expected by year-end 2026. Performance varied widely by submarket. Century City continued to lead West Los Angeles leasing, accounting for 27% of activity and achieving 5.2% annual rent growth. Downtown Los Angeles struggled with a 29.7% availability rate, while Hollywood/Mid-Wilshire reached a record 30.2% due to media consolidation. The Tri-Cities market posted modest rent gains but faced the region’s highest sublease rate at 5.2%. In contrast, San Gabriel Valley saw availability drop to 11% on strong healthcare and government demand, and the San Fernando Valley recorded leasing growth led by finance and healthcare tenants. Overall, the market shows early signs of stabilization, but recovery remains uneven. Location, building quality, and tenant mix will continue to define performance across Los Angeles office markets through the next 18 months.