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L.A. County office market tightens in first quarter

L.A. County office market tightens in first quarter

Prospective office renters in Los Angeles County are likely to have to dig deeper into their wallets as rents rise and empty space continues to fill up. Market improvements for landlords that emerged in the second half of 2014 continued in the first quarter. Businesses expanded faster than new offices were built, increasing the competition to lock up space. With the regional economy on track, the office market should continue to tighten and push up rents, said Petra Durnin, managing director of research for real estate brokerage Cushman & Wakefield. "Looking forward, 2015 is going to be a very healthy year," Durnin said. Overall Los Angeles County vacancy fell to 16% in the...

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