L. A. Led in Office Rentals, Survey Finds
Los Angeles led the nation during 1984 in net absorption of office space, according to the Seeley Co., an affiliate of Colliers International Property Consultants of Boston, which has just completed a survey of commercial real estate.
With 8.97 million square feet of space absorbed on a net basis, Los Angeles surpassed the second most successful market, Washington, by about 170,000 square feet, said Jay Haskell, executive vice president of the Seeley Co.
The Colliers survey showed that the top markets--Los Angeles, Washington, Dallas, San Francisco and Denver--accounted for more than 50% of the total net absorption (35.7 million square feet) of the 21 markets studied. During 1984, Los Angeles reversed a trend of increasing vacancy rates experienced during the previous two years.