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| Construction costs cut down major expansions across Los Angeles area Declining office and industrial vacancy rates and rising rents should continue to boost development of new office and industrial buildings, but rising land and construction costs could short-circuit many projects in Southern California according to a new study release by the Los Angeles County Economic Development Corporation (LAEDC). The study found that there were a total of 252 major expansions in the five-county region recorded by the LAEDC during 2005. That was down by 27.5 percent or by 96 projects from 2004. Office vacancy rates have been declining across the Los Angeles five-county region since the second quarter of 2004 according to the study. write your comments about the article :: © 2006 Construction News :: home page |