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Hollywood / Wilshire Corridor Office Overview
• Hollywood/Wilshire Corridor vacancy increased another 50 basis points over the quarter to 25.2%.
• Over 60% of the vacancy in this office market is in Mid-Wilshire.
• Sublease availability retracted to 1.9%, down from 2.8% in Q1 2021.
• Average asking rates are down over the year in Hollywood and Mid-Wilshire by 3.9% and 14%, respectively.
• There was 110,334 SF of new leasing in Q2 2021, on par with the amount recorded in Q1 2021.
• The digital streaming industry will helped keep Hollywood office demand healthy compared to many other areas of Greater Los Angeles.
• Over 60% of the vacancy in this office market is in Mid-Wilshire.
• Sublease availability retracted to 1.9%, down from 2.8% in Q1 2021.
• Average asking rates are down over the year in Hollywood and Mid-Wilshire by 3.9% and 14%, respectively.
• There was 110,334 SF of new leasing in Q2 2021, on par with the amount recorded in Q1 2021.
• The digital streaming industry will helped keep Hollywood office demand healthy compared to many other areas of Greater Los Angeles.
