December 17, 2003
The office real estate market will pull out of its slump in 2004.
The Inland Empire figures to stand out, drawing more companies with cheap land and growing world trade, according to USC's Lusk Centercolor>. But a surplus of buildings should keep rents from rising substantially.
Expect L.A. County's pace to accelerate as firms resume hiring. Landlords are sure to make fewer concessions to fill up empty space. Pasadena and Burbank will thrive, but West L.A.'s revival will be slow.
Orange County's rents are going to climb by 10% through 2005. The strongest activity is likely in areas around John Wayne Airport.