Los Angeles 2020 Q3 Market Report

Commercial real estate leasing activity continues to decline at a historic rate as the world economy deals with COVID-19 and the uncertainty surrounding the United States election. The office market has seen a dramatic influx of available sublease space over the last six months, a predictable sign of a weakening office market. Real estate strategy for most occupiers has shifted towards short-term, flexible lease extensions. Real estate fundamentals are evolving, and we are seeing most landlords offer more aggressive economic concessions to retain and attract tenants.