YOU ARE HERE: LAT HomeCollectionsVacancy


January 24, 2010 | By Robert Faturechi
For some, construction kicked off during better years, when office rentals in prime locales seemed a sure shot for developers. Others are older, once bustling but now deserted after hemorrhaging tenants during the economic downturn. But one way or another, they are among the emptiest office buildings in Southern California. A number of the highest- vacancy buildings are in Burbank and Glendale, according to data from CoStar Group Inc. The real estate research firm looked at the percentage of space that was rented out at Class A office buildings with 300,000 square feet or more.
April 22, 2014 | By Patrick McGreevy
SACRAMENTO -- Alarmed by the cost of holding special elections whenever a vacancy occurs in the Legislature, a state panel on Tuesday endorsed putting a measure before voters that would allow the governor to appoint people to fill empty seats. Los Angeles County has held 20 special elections since 2008 at a cost of $27 million, County Clerk Dean Logan told the Senate Elections and Constitutional Amendments Committee. Turnout in many special elections is as low as 12%. Senate President Pro Tem Darrell Steinberg (D-Sacramento)
April 30, 1989
A surge in leasing activity has put a small dent in the South Bay office vacancy rate, but more than 20% of offices here remain unoccupied, according to quarterly real estate surveys conducted independently by two companies. Grubb & Ellis Commercial Real Estate Services reported this week that 21.5% of the South Bay's 28.7 million square feet of office space is unoccupied, compared to 23% a year ago. Company analysts said that a record amount of space--840,000 square feet--was leased in the first three months of 1989, with particularly heavy leasing in the Torrance-405 Freeway and Los Angeles International Airport areas.
April 20, 2014 | By Roger Vincent
Southern California's office market has improved ever so slightly - once again for landlords. In the just-finished first quarter of 2014, the overall vacancy rate fell less than a percentage point and monthly rents ticked up a nickel per square foot. The slight upward shift in occupancy was typical of the last several quarters. The region's office rental market stabilized after the recession, but has not picked up steam the way it did during previous economic recoveries. Nevertheless, vacancy is reaching its lowest level since 2008, when the Great Recession hit and prompted a downward trend in office use that finally is turning around, albeit at a glacial pace.
April 29, 2008 | From Times Wire Services
The percentage of homes that are vacant and for sale in the U.S. set a record in the first quarter, the government said. A Census Bureau report showed that 2.9% of U.S. homes -- excluding rental properties -- were vacant and for sale, compared with 2.8% in the fourth quarter of 2007. It was the highest quarterly number in records going back to 1956. The West had the biggest gain in vacancy rates, rising to 3.2% in the quarter from 2.6% a year earlier.
July 12, 1996
It appears there are some constituents who do not understand the ballot measure I proposed, giving voters more power over council vacancies. For background, in 1987, a council vacancy occurred. The council, myself included, voted to appoint, only for the length of time required to elapse before the election could be held. An election followed as soon as legally possible. In 1990, Paul Lawrason, with two years left in his council term, ran and was elected mayor. A special election, with a 17.2% turnout and costing more than $20,000, filled the vacancy left by Lawrason.
October 15, 1986
Average vacancy levels for office buildings in downtown business districts fell to 15% from 19% during the third quarter of 1986, according to a nationwide survey by Cushman & Wakefield, a diversified real estate company and subsidiary of Rockefeller Group. The survey showed the lowest central city vacancy rates were in the Northeast, while the highest rates were recorded mainly in the Sun Belt. Hartford, Conn., led the list with a vacancy rate of only 6%, while Fort Lauderdale, Fla.
May 2, 1989 | BARRY STAVRO, Times Staff Writer
The San Fernando Valley office vacancy rate climbed to 15% in the first quarter of 1989, the highest it has been in nearly two years, according to a survey by the realty firm Grubb & Ellis. In the fourth quarter of last year, the vacancy rate fell to 12%, matching the five-year low. Howe S. Foster, senior vice president at Grubb & Ellis, attributed most the first quarter's increase "to the half-million square feet of new office space that came on line in the East Valley" market.
April 19, 1987 | David Reyes
Applications are now being accepted for a vacancy on the city's Mobile Home Commission. Established in 1978, the commission helps mediate disputes between park residents and owners. Membership on the nine-member commission includes three park owners, three park residents and three at-large members. The current vacancy must be filled by a mobile home park resident. The commission meets "as needed"--in the past about twice a year.
November 3, 1985
Westside Los Angeles office vacancy rates increased to 17% in the third quarter of this year from 14% last year and--judging by the amount of construction under way--should continue to increase, according to data from Grubb & Ellis Commercial Brokerage Services. As of Aug. 31, about 2.9 million square feet was vacant from the existing base of 96 buildings on the Westside, including Beverly Hills, Santa Monica, Century City, Mid-Wilshire, Westwood, Brentwood, Culver City and West Los Angeles.
March 8, 2014 | By David Lauter
CLEARWATER, Fla. - The two major political parties look at off-cycle congressional elections the way great powers eye wars in small lands - as a chance to test weapons and tactics they'll soon deploy elsewhere. That's why many of the ads running on television here - for a race to fill a congressional vacancy representing a swath of Florida's Gulf Coast - will probably sound familiar soon to voters in competitive districts nationwide. "Cut spending, stop Obamacare," proclaim the spots supporting Republican David Jolly . "I'll bring Republicans and Democrats together," Democrat Alex Sink promises in her ads, while simultaneously accusing Jolly of endangering Social Security, Medicare and abortion rights.
February 5, 2014 | By Howard Blume
A Los Angeles Board of Education committee charged with developing a process to appoint a caretaker for the vacant District 1 seat will be unable to fill the post with a voting member. The  meeting at district headquarters downtown Tuesday evening was chaired by board member Steve Zimmer, who asserted that he would prefer an appointee to have full voting powers. General Counsel David Holmquist said that under the law, however, because the board called a special election, no appointee could cast a binding vote.
January 17, 2014
Tackling the long-standing and upcoming vacancies on the University of California regents board, Gov. Jerry Brown on Friday reappointed two veterans and brought back another whose term expired last year. In addition, the governor proposed adding Richard Sherman, a Hollywood financial expert who heads investments for David Geffen, the entertainment mogul and major UC donor. The regents board has five vacancies and two more 12-year terms that will expire soon. Some UC administrators have expressed concerns that the unusual number of empty seats, one dating to 2011, was beginning to affect operations of the board that oversees the 10 UC campuses.
November 24, 2013 | George Skelton, Capitol Journal
SACRAMENTO - Senate leader Darrell Steinberg says he has seen enough. He wants to rid California of incessant special elections to fill vacancies in the Legislature. The elections interrupt the legislative process, he asserts, and they bleed local taxpayers - roughly $1 million each time some lawmaker jumps ship, which has been increasingly often. Let the governor fill vacant seats and be done with it, the Sacramento Democrat contends. Amen. If it were possible, I'd order lawmakers to stop the music, grab a seat and stay put. This musical chairs game is too expensive for the adults, the taxpayers.
July 31, 2013 | By Patrick McGreevy
The fields of candidates are set for two special legislative elections to be held on Sept. 17, and it looks like only one of them is likely to require a runoff election. The elections are being held to fill vacancies created when Democrats Sen. Curren Price and Assemblyman Robert Blumenfield won election to the Los Angeles City Council. There are only two candidate's for Price's 26 th Senate District, Assemblywoman Holly J. Mitchell (D-Los Angeles) and perennial candidate Mervin Evans, an author/management consultant who is also a Democrat.
June 3, 2013 | By Broderick Turner
Although Memphis Coach Lionel Hollins told a radio station he was stunned the Grizzlies granted him permission to speak with other teams, his representatives called the Clippers on Monday to let them know he was interested in their head-coaching job, according to two NBA executives who were not authorized to speak publicly on the matter. Hollins and his agent, Warren LeGarie, are waiting for the Clippers' front office to hear back from owner Donald Sterling, one of the executives said.
May 26, 1989 | Michael Flagg and John Charles Tighe, Times staff writers
There may be fewer good deals out there for renters of office space if the market continues to tighten, a local brokerage said. With so much vacant office space in the county now, building owners are offering all kinds of concessions to get tenants in the door. But demand is beginning to cut down on the vacancies, said Dick Meyer, senior sales executive in Daum Commercial Industrial Real Estate's Irvine office. According to figures compiled by the consulting firm Newport Economics Group, the office vacancy rate dropped slightly last year, to 19.5% from 20.5% in 1987, even though 4 million square feet of new office space was built in 1988.
October 7, 2010 | By Alejandro Lazo, Los Angeles Times
In a sign that the nation's foreclosure crisis is taking a toll, renters surged into the U.S. apartment market in the third quarter, pushing up rents and driving down vacancies. The national vacancy rate fell to 7.2% in the third quarter from 7.8% the second quarter, one of the sharpest drops on record, according to New York-based real estate research firm Reis Inc. Rents increased 0.6% to an average of $980 a unit over the same period as landlords were able to cut back on free rent and other incentives that had been used to attract and retain tenants in a weak market.
Los Angeles Times Articles