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California  + Office  | 

LA Office Sales Volume Drops 36% in Q1 2017

Los Angeles managed to retain its place as the top performer in California’s office markets, according to Yardi Matrix’ CommercialCafé Q1 2017 Los Angeles Office Market Report. That achievement surfaced despite what appears to be a slow start, with significant year-over-year drops in both sales volume and average price-per-square-foot.

Here are some of the report’s major highlights:

  • Office sales volume in L.A. County totaled $1.5 billion in Q1 2017
  • LA Q1 office sales volume experienced a 36% drop y-o-y, but despite it being $850 million short of Q1 2016 (the best first quarter of the last 4 years), it was four times higher than the levels recorded in Q1 2013
  • The first months of 2017 also bought a 46% drop in average price-per-square-foot in LA compared to the high-point reached in Q4 2016, at $539-per-square-foot, resting at the more modest value of $294-per-square-foot
  • San Francisco County office came in second, with $1.35 billion in sales volume in Q1, while the Bay Area market was home to 17 deals totaling $1.3 billion

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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