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Office space near LAX is cheaper than it is in Detroit
Office space near LAX is cheaper than it is in Detroit

The views from office towers near Los Angeles International Airport can be great. Tenants watch planes coming and going or check out the city skyline and the Pacific Ocean. They just don’t have much company. The LAX market has been softer than a marshmallow for decades, but vacancy has now hit a staggering record high of 40% as tenants flee for anywhere-but-there. Many office markets in the region reported gains in occupancy last year, but the aging LAX-area buildings clustered on Century Boulevard had a net loss of 95,000 square feet of rented space, real estate brokerage Avison Young said. Vacancy is rising even though LAX is probably the cheapest place to rent an office on the...

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