More tenants are moving out of L.A. retail spaces | Palos Verdes Estates Real Estate

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More tenants are moving out of L.A. retail spaces than are moving in

Retail Properties

Frank Ponce October 19, 2024

Los Angeles Retail Market Struggles to Retain Tenants

In Q3 2024, L.A. retail tenants leased 2.1 million square feet, down from 3.1 million in Q2. Year-to-date net absorption is negative 2.4 million square feet, with retail availability rising to 6.1% from 5.6% at the start of the year. Population losses and economic challenges, including a 6.7% unemployment rate, have limited tenant demand. These factors are expected to persist, further impeding retail tenant demand in Los Angeles.

If you need your retail property evaluated, give us a call. Frank (310) 503-4158, or Viktorie (424) 301-0075.

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