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Southern California's Vast Desolation Indoors

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COMMERCIAL REAL ESTATE NOTES
"Problems at white-collar firms are bleeding the region's enormous office rental industry. Almost 51 million square feet of office space in Los Angeles County, Orange County and the Inland Empire is now empty -- more than 17% of the total," the LA Times reported. "These vacancies are a direct reflection on unemployment," said Joe Vargas, an executive vice president at Cushman & Wakefield. "Companies continue to reduce their workforce, or they are not hiring."
SOURCE:   L.A. Times

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