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Vacancy Rates Los Angeles

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BUSINESS
January 12, 1999 | MORRIS NEWMAN, SPECIAL TO THE TIMES
The recession ended nearly five years ago, but the news doesn't seem to have reached the office market near Los Angeles International Airport, where a third of the buildings are vacant--a figure that has changed little in the last several years. Tenants have proved so hard to find that one landlord may soon convert his office building into a parking garage.
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BUSINESS
January 12, 1999 | MORRIS NEWMAN, SPECIAL TO THE TIMES
The recession ended nearly five years ago, but the news doesn't seem to have reached the office market near Los Angeles International Airport, where a third of the buildings are vacant--a figure that has changed little in the last several years. Tenants have proved so hard to find that one landlord may soon convert his office building into a parking garage.
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BUSINESS
December 10, 1997
Office Vacancy Rates in Los Angeles County Market Downtown Dec. 1996: 23.2% Dec. 1997*: 24.9% * San Gabriel Valley Dec. 1996: 19.1% Dec. 1997*: 19.3% * Mid-Wilshire Dec. 1996: 19.1% Dec. 1997*: 18.9% * South Bay Dec. 1996: 18.8% Dec. 1997*: 16.7% * San Fernando Valley Dec. 1996: 16.3% Dec. 1997*: 14.9% * West L.A. Dec. 1996: 11.7% Dec. 1997*: 10.1% * Burbank/Glendale/Pasadena Dec. 1996: 10.1% Dec. 1997*: 9.4% Office Vacancy Rates in Orange County Markets Central County Dec. 1996: 20.7% Dec.
BUSINESS
December 31, 1997 | BOB HOWARD, SPECIAL TO THE TIMES
Virtually everyone agrees: 1997 was the best year this decade for commercial real estate in Southern California, and 1998 promises more of the same. Having pulled out of its slump in late 1995 and hit its stride in 1996, the commercial real estate industry fairly roared in '97. "This was the best year in a long time," said Jay Haskell, president of Seeley Co., a commercial real estate brokerage.
BUSINESS
December 2, 2005 | Roger Vincent, Times Staff Writer
Southern California office rents will continue to rise next year as steady gains in the economy encourage employers to expand, further pushing down vacancy rates, according to a forecast released Thursday. "Stable job growth has helped to reduce office vacancy rates and raise rents throughout the region," said Dolores Conway, director of the annual Casden Real Estate Economics Forecast released by the USC Lusk Center for Real Estate.
BUSINESS
January 15, 2009 | Bloomberg News
Los Angeles office landlords will probably be forced to slash rents as much as 30% in the first half of the year as job cuts create more empty space, Grubb & Ellis Co. said Wednesday. Office vacancy rates in Los Angeles County jumped to 12.2% at the end of 2008 from 9.7% a year earlier, the Santa Ana broker said. "Southern California counties got caught in the economic whirlwinds of 2008, and there will be little or no letup in 2009," said Jack Kyser, an economist who worked on the report.
BUSINESS
February 27, 1986 | NANCY YOSHIHARA, Times Staff Writer
Construction activity in Los Angeles County will decline this year after a three-year boom, but the retrenchment will be offset by substantial gains in employment and consumer spending, Bank of America predicted Wednesday. Duane Paul, the bank's senior economist for Southern California, said the overall economic outlook for the county this year is bright because of the diversity of local industries, higher defense spending, more international trade and the sharp declines in oil prices.
CALIFORNIA | LOCAL
April 1, 1997 | ED BOND, SPECIAL TO THE TIMES
The death of a Sun Valley woman and her two granddaughters in a fire that trapped them in an illegal garage apartment has left community leaders, city officials and affordable-housing advocates struggling to find answers. Last week, Councilman Richard Alarcon called for the creation of a task force to study ways to make the city's estimated 50,000 to 100,000 illegal garage dwellings safer.
NEWS
February 21, 1985 | MARTHA L. WILLMAN, Times Staff Writer
The Glendale Redevelopment Agency has agreed to spend up to $500,000 training new employees of large corporations as an enticement to big business to lease office space in downtown high-rises. The agency voted, 4 to 1, Tuesday to allocate the funds to the Verdugo Private Industry Council, which operates a job training program for Glendale, Burbank and La Canada Flintridge under the federal Job Training Partnership Act.
BUSINESS
January 3, 1993 | DAVID W. MYERS, TIMES STAFF WRITER
For the Southern California real estate market, 1992 wasn't just a year to forget. Repression doesn't seem strong enough to expunge its awfulness. But like so many bad dreams, this one will probably recur. In 1993, for example. "There's still an oversupply of homes for sale in most areas and a lot of people are still worried about their jobs," said Frederick Cannon, chief economist for Bank of America. "Nervous people just don't buy homes."
CALIFORNIA | LOCAL
April 11, 2000 | KAREN ROBINSON
Real estate developers in the San Fernando Valley were an industrious lot during the last three months. In the first quarter, which ended March 31, Sherman Oaks-based SunQuest Development announced plans to convert a stretch here long dominated by a rock quarry and landfill into a 33-acre industrial park. The estimated cost: $36 million.
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