According to Crexi.com the following is Downey’s Office property stats:
Median Capitalization Rate in Downey is = 6%.
Average Price Per Square Foot in Downey is = $397.
Office Properties in Downey is = 137,676 Square Feet.
In their July 2023 Commercial Real Estate Market Insights Office Properties info NAR.Realtor said:
Even though more people are going to their offices more often, the office sector still faces challenges. The office vacancy rate reached a new record high at 13.1% at the end of the year’s first half. With hybrid work arrangements allowing for a mix of in-person and remote work, a lot of office space is left empty. Meanwhile, in their effort to reduce their occupancy cost, tenants have decreased the average square footage per person leading to lower demand for space. The office sector is transforming to adapt to changing working arrangements and needs.
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