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Downtown Long Beach Remains Resilient

Los Angeles
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The Downtown Long Beach Alliance last month released its Q2 2021 Snapshot Report, an analysis of office market trends in Downtown Long Beach. Occupancy rates appear to have stabilized in Downtown and while rents have increased slightly, DTLB remains more cost-effective compared to other markets in SoCal. Vacancy rates in Downtown were ~19%, ↑ 3% compared to Q1 2020, a pre-pandemic baseline.Adaptive reuse of existing properties is an excellent way to recover Downtown areas, aging and underutilized office buildings are being renovated to meet current needs for housing and retail space.

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