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Article: Small tenants keep activity in Mid-Wilshire brisk; low lease rates increase the attractiveness of market. (Los Angeles, California) (Quarterly Real Estate Special Report)
- Article from:
- Los Angeles Business Journal
- Article date:
- April 27, 1992
- Author:
CopyrightCOPYRIGHT 1992 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Big companies continued to leave Mid-Wilshire in the first quarter, but the market nonetheless absorbed a small amount of space from leasing by smaller tenants and more aggressive efforts by landlords to retain existing tenants.
The market absorbed (leased out more space than was vacated or created) 11,220 square feet of space in the first quarter, according to a Grubb & Ellis Co. survey, compared with negative absorption in the first quarter of 1991 when a number of big tenants moved out.
David Kim, managing director at the Mid-Wilshire office of Julien J. Studley Inc., said the figures indicate Mid-Wilshire is holding its own despite the problems of recent ...