Nationally, $18.9 billion in office sales were recorded in the first quarter of 2022, according to CommercialEdge.
More than $7.5 billion originated in six leading markets, all of which logged more than $1 billion in year-to-date sales: Seattle; Dallas; New Hersey, Pa.; Houston, the Northern California Bay Area; and Manhattan.
Although Los Angeles was just shy of $1 billion in office sales, totaling $998 million in first quarter, the entertainment industry has continued to spur investments in a city where office-using employment is lagging. As such, the city’s top deal year-to-date was the $93 million sale of the Netflix-occupied 1350 North Western Ave.
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