Metro Markets
Retail in Los Angeles County has experienced the slowest quarter since 2020Q2. A national economic downturn, supply chain bottlenecks, and minimal consumer spending are key factors to such a slow finale for 2022. With all these outliers, the Greater Los Angeles market has still maintained perfectly healthy vacancy rates (5.0%) and occupancy rates (95%). As interest rate hikes begin to cool down, consumer spending shifts toward services, and new developments in the metro area finish, 2023 will start on the slower side but will bounce back towards the second half of the year.
Below are breakdowns of submarkets found in the Greater Los Angeles area.
LOS ANGELES
Downtown Los Angeles
Arts district, Chinatown, Civic Center, Fashion District, Financial District, Little Tokyo, Historic Downtown LA, South Park, and more.
BURBANK
Burbank
Chandler Park, Magnolia Park, McNeil, Media Center, Northwest District, Rancho Adjacent, and Vega.
SANTA CLARITA VALLEY
Santa Clarita Valley
Bridgeport, Canyon Country, Castaic, Cheyenne, Newhall, Santa Clarita Valley, Steveson Ranch, Valencia, Old Orchard, and more.
SAN FERNANDO VALLEY
San Fernando Valley
Granada Hills, Lake View Terrace, Mission Hills, Pacoima, Porter Ranch, San Fernando, and Sylmar
SANTA MONICA
Santa Monica
Downtown Santa Monica, Mid-City Santa Monica, North of Montana, Ocean Park, Pico, Sunset Park, and Wilshire Montana