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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