Los Angeles office market ends 2024 with highest annual leasing activity post-pandemic

In Q4 2024, the Los Angeles office market reported over 3.9 million square feet (msf) of leasing activity which was the highest reported in any quarter since Ql 2020 when just under 4.0 msf was leased. In addition, full-year 2024 total leasing activity of 13.7 msf is up 29.2% from the 10.6 msf reported in 2023, as well as the highest reported in the post-pandemic era. However, it should be noted that despite the strong end to the year, annual leasing activity of 13.7 msf remains 23.5% lower than the 17.9 msf of office leasing reported in 2019, which was the last full year before the pandemic.

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