June 19, 2006
Los Angeles' office market has been one of the country's best performers, as vacancy rates in the city dropped to 10.1% in the first quarter from 12.4% a year earlier, according to CB Richard Ellis. This has fueled demand for property owners in the city. This year, apartment rents are set to rise 6% to 7% in Southern California, according to the USC Lusk Center for Real Estate.