- LA County commercial property sales reached $2.1B across roughly 7.25M SF in July, a 28.5% jump in dollar volume from July 2025.
- Multifamily accounted for $1.22B, or 58% of the month’s total, with average pricing up 28.7% to $376 PSF.
- Office was the only major property type to fall in both dollar volume and square footage, with pricing down 23.5% to $250 PSF.
According to the Commercial Observer, commercial real estate investment sales accelerated across Los Angeles County in July. Roughly 7.25M SF of commercial property traded for $2.1B, NAI Capital reported Thursday, citing CoStar data. Multifamily accounted for the majority of capital deployed.
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Volume Climbs Despite Elevated Borrowing Costs
Square footage traded rose almost 22% against July 2025. That produced a 28.5% jump in dollar volume for the month. Measured against July 2024, sales volume climbed 75%. The gains came despite elevated borrowing costs, with long-term Treasury yields near multiyear highs. Financing conditions have not kept capital out of the county’s favored asset classes.
The Details
Multifamily dominated the month. About 3.43M SF changed hands for $1.22B, or 58% of all investment in the county. Multifamily sales volume rose 55% from a year earlier and nearly 166% against July 2024. Average pricing climbed 28.7% to $376 PSF. Retail also posted broad gains, with 1.23M SF selling for $402M. That pushed retail dollar volume up 40% from a year ago and nearly doubled the July 2024 total. Retail square footage traded has climbed 135% over the same two-year period.
Industrial and Office Move in Opposite Directions
Industrial faces a more complicated environment. About 1.33M SF traded, almost 71% higher than 2025, but dollar volume stayed roughly flat at $214M. Average industrial pricing fell 3.6% to $273 PSF. Office was the only major property type to decline in both sales volume and square footage. Roughly 1.26M SF sold for $262M, down 9.7% and 23.4% respectively from July 2025. Office pricing dropped 23.5% to $250 PSF, and the space traded has fallen by about half since July 2024.
Why It Matters
The county’s recovery is not broad-based. Multifamily is absorbing capital and repricing upward at the same time. That strength aligns with a broader July rebound in commercial real estate prices. Industrial is trading far more space for roughly the same dollars.
Office continues to shrink on both measures. NAI Capital framed the fall around where capital is going and how much space trades. The relationship between square footage, dollar volume, and pricing offers the clearest signal for LA County.
