Demand for office space is expected to...

Demand for office space is expected to drop next year in many cities in response to the uncertain economy, although it will remain strong in Los Angeles, according to a report by Cushman & Wakefield, a business real estate firm based in New York. “Absorption of office space (in Los Angeles) is expected to be strong as demand from major users--especially law and financial firms--continues,” said David McKenney, a senior vice president in the firm’s Los Angeles office. The supply of new office space is expected to grow slowly next year, particularly in suburban markets, which already have high vacancy rates.