this post was submitted on 24 Dec 2023
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With almost 30% of downtown LA office space available for lease or sublease, the value of the 62-story Aon Center plummeted.

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[–] [email protected] 6 points 10 months ago

Part of the problem is that their mortgage usually sets a minimum price per square foot. That means that if the market crashes, the landlords can’t lease for market price without getting their investors to approve. That’s part of the reason why there’s so much empty space, because prices haven’t come down much.