4Q 2012 - Retail - Mid Wilshire/Koreatown - Rents, Vacancy & Absorption Rates

4th Quarter 2012 - Retail Real Estate Market Update - Mid Wilshire/Koreatown vs. Los Angeles County - Rents, Vacancy & Absorption Rates

Retail space in the Mid Wilshire/Koreatown of Los Angeles submarket consists of apx.: just under 1,000 buildings in just under 12MM square feet.  In comparison, Los Angeles County overall had apx.: just under 34,000 buildings in just under 242MM square feet.  The submarket comprises 5% of all Los Angeles County Retail buildings, statistics below show that Commercial Real Estate activity is still relatively much healthier & stronger.

For 4th Quarter 2012, comparing Retail Commercial Real Estate product in Mid-Wilshire/Koreatown vs. Los Angeles County, apx.: Asking NNN Rents were $2.18 vs. $2.14, 2% higher than Los Angeles County Retail, Vacancies were 3.7% vs. 4.4%, 1% lower than Los Angeles County and Absorption or Lease Up of space was just under: -900 vs. -85,000, 96 times lower than overall Los Angeles County. 

Although Mid-Wilshire/Koreatown Real Estate still had negative absorption or lease up of space it was very minor compared to the market in as a whole and continues to have favorable & positive real estate market conditions.