Commercial real estate investment sales in Los Angeles County recorded a significant acceleration in July, with the multifamily sector accounting for the majority of the capital deployed. According to NAI Capital, based on CoStar data, approximately 7.25 million square feet of commercial property changed hands for $2.1 billion last month.
Compared to July 2025, the traded square footage increased by almost 22 per cent, leading to a 28.5 per cent rise in dollar volume. Against July 2024, the sales volume climbed by as much as 75 per cent. These gains occurred despite increased borrowing costs, as long-term government bond yields hovered near multi-year highs.
The multifamily sector dominated activity with 3.43 million square feet traded for $1.22 billion. This accounted for 58 per cent of all investments in Los Angeles County in July. Sales volume increased by 55 per cent year-on-year and by almost 166 per cent compared to July 2024. Average prices rose by 28.7 per cent to $376 per square foot.
The retail sector also saw broad gains. Approximately 1.23 million square feet were sold for $402 million, boosting the dollar volume by 40 per cent year-on-year and nearly doubling the result from July 2024. The traded retail space has increased by 135 per cent over the same two-year period.
The industrial sector faced a more complex environment. In July, approximately 1.33 million square feet were traded, representing an increase of almost 71 per cent since 2025. However, the dollar volume remained virtually unchanged at $214 million, and average prices fell by 3.6 per cent to $273 per square foot.
The office segment was the only major property type that saw declines in both sales volume and square footage. Approximately 1.26 million square feet were sold for $262 million, a decrease of 9.7 per cent and 23.4 per cent respectively compared to July 2025. Average prices fell by 23.5 per cent to $250 per square foot. Compared to July 2024, the traded office space had almost halved.
NAI Capital noted in its report that the crucial question for autumn is not only whether investment activity will increase, but also where capital is flowing, how much space is being traded, and what conclusions the relationship between square footage, dollar volume, and pricing allows about the investment market in Los Angeles County.
