Newmark：2025年第三季度洛杉矶办公楼市场报告（英文版）

Total vacancy, which has hovered in the 24-25% range over the last 18 months, settled at 25.2%. Owner-user sales and conversions are tempering vacancy. Sublet availability dropped by over 1.2-MSF during the third quarter, resulting in the lowest amount of space in the market since 2020. Traditional industries (e.g., law and finance firms) comprise the bulk of today’s leasing activity. Most are rightsizing, with Fortune-tier companies pursuing trophy space. Industry restructuring is ongoing fo