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Los Angeles Office Market Report

3rd Quarter 2025

Posted In — Market Research | Market Report
3Q 2025 Los Angeles Office Market: Key Data Points

Explore our full Los Angeles office market review for deeper insights into leasing trends, sale activity, and submarket performance.

  • Vacancy Rate Rises: Direct vacancy increased to 16.0%, up 70 basis points year-over-year.
  • Asking Lease Rates Decline: Average asking lease rate fell to $3.50/SF full-service, a 1.41% decrease year-over-year.
  • Leasing Activity Slows: Total leasing volume reached 2.88M SF, down 37.7% year-over-year.
  • Net Absorption Negative: The market recorded -549K SF in net absorption for the quarter.
  • No New Deliveries: No new office space was delivered in Q3 2025.
  • Construction Pipeline Active: 2.8M SF remains under development across the region.

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