Office buildings continue to lose tenants as the remote work trend persists.
Southern California’s office vacancy rate reached 20 percent at the end of 2023, according to an article by Jonathan Lansner in the
Orange County Register. “Those vacancies would fill 58 US Bank Towers, the 72-story Downtown LA landmark with 1.4 million square feet of office space,” Lansner notes.
Los Angeles led the way with 51 million square feet of vacant office space, or 24 percent of the city’s stock. In Orange County, 18 million vacant square feet amount to 19.6 percent of the region’s offices.
See the source article for a more in-depth breakdown of vacancy rates in different areas and neighborhoods.
FULL STORY: 20% of Southern California offices are empty. Where are the most vacancies?
Revitalizing Suburban Office Space
Suburban office buildings are also losing tenants, but face some unique challenges compared to their urban counterparts.
Texas Cities’ Office Vacancy Rates Close to Double New York, San Francisco
A glut of office buildings in the pro-development state is leading to some of the highest vacancy rates in the country, even as population growth spikes.
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Urbanist Richard Florida assesses post-pandemic possibilities for neighborhoods that once relied on 9-to-5 workers.
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.
North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.
Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.
Private Donations Propel Early Restoration of Palisades Playground
Los Angeles has secured over $1.3 million in private funding to restore the Pacific Palisades playground months ahead of schedule, creating a modern, accessible space that supports community healing after recent wildfires.
From Blight to Benefit: Early Results From California’s Equitable Cleanup Program
The Equitable Community Revitalization Grant (ECRG) program is reshaping brownfield redevelopment by prioritizing projects in low-income and environmental justice communities, emphasizing equity, transparency, and community benefits.
Planting Relief: Tackling Las Vegas Heat One Tree at a Time
Nevada Plants, a Las Vegas-based nonprofit, is combating the city’s extreme urban heat by giving away trees to residents in underserved neighborhoods, promoting shade, sustainability, and community health.
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