Los Angeles Office Market Remains Healthy

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Los Angeles County's office market tightened in the fourth quarter of 2005 as business expansions pushed vacancy rates down and rents up, according to data from Cushman & Wakefield.

The average vacancy rate fell to 12.3% down from 14.8% in the same period in 2004. Monthly asking rent moved up 5 cents to $2.11/sf. The vacancy rate in downtown Los Angeles was 14.3% in the fourth quarter, down from 17% a year earlier. Asking rents in downtown were up 8 cents to $2.15/sf.