• The Greater Los Angeles (GLA) retail market's negative 273,669-sq.-ft. net absorption was attributed to small to mid-sized declines in every submarket, except the South Bay and Santa Clarita Valley.
  • Average asking lease rates declined $0.11 per sq. ft. per month quarter over quarter to $2.78 per sq. ft, which was attributed to the slight increase in vacant space.
  • Greater Los Angeles had 1.9 million sq. ft. of retail space under construction, with 368,000 sq. ft. expected to be completed by year end.