The Perfect Office Space for Rent in Downtown Los Angeles, CA Awaits!
Once strictly business oriented, residency in Downtown Los Angeles has skyrocketed in recent years with developers still struggling to meet the growing demand for residential units. The boom of multifamily construction has drawn an influx of young and affluent residents that helped office space for rent in Downtown Los Angeles reach its lowest vacancy rates in over a decade. With more people choosing to live in trendy Downtown LA, more people also choose to lease office space in Downtown Los Angeles. Commercial real estate for rent has slowly began taking root within Downtown LA to take advantage of the growing number of tenants looking to lease collaborative office space. Although traditional office suites are still the norm in Downtown, tech companies and designers have plenty of lease options as well. Securing office space in Downtown Los Angeles has many benefits. Many tenants take advantage of the proximity to clients and courts, the expanding transportation infrastructure and the ability to draw labor from a wide demographic. The class A high-rises like he iconic US Bank Tower provide unparalleled security, convince, prestige and views from the higher floors. Office suites facing west can see as far as the Pacific Ocean while the rest provides breathtaking views of the nearby mountains of Echo Park, Eagle Rock, Pasadena and Glendale.
The Best Creative Executive Suites in Downtown Los Angeles, CA
With a total of 72 million SF of executive office space for rent throughout class A and B high-rises, Downtown LA has been the dominant business center for Los Angeles financial, legal and government services. With many smaller neighborhoods like the fashion district, financial district and jewelry district, DTLA is more than just a powerhouse for professionals. Creative executive office space in Downtown Los Angeles has slowly begun to take root, especially in the Arts District. Efforts in developing and converting former industrial spaces into creative serviced offices in Downtown Los Angeles has proven to be a successful trend in bringing in unconventional employers and vibrant new businesses. Warner Music Group had one of the largest deals in recent years with leasing the 255,000 SF former Ford factory and converting it into versatile creative office space in Downtown Los Angeles. It’s no wonder that older properties appeal to creative industries and complement the DTLA residential and entertainment scene. Other influential businesses taking advantage are Adidas who leased 31,000 SF of a converted rail distribution center and Soylent who leased 29,000 SF in a mixed-use complex.
The Future of Commercial Property in Downtown Los Angeles, CA is Bright
This Downtown Renaissance is expected to maintain momentum and continue to evolve in the coming years. Millions of dollars are currently being allocated and invested into modernizing high-rises as well like the Paul Hastings Tower and Union Bank Plaza. Sky courtyards, open floor plans and upgraded common areas are among the highly sought after amenities in demand. The Regional Connector underground rail will further expand LA’s rail network and provide a huge benefit to all businesses that occupy rental commercial property in Downtown Los Angeles when it is completed in 2021. An additional 1.6 million SF of major new projects for construction of DTLA office space is also underway with deliveries expected within the next two years.
DTLA is truly the place to be. Call of our commercial real estate brokers today to tour your next office space in Downtown Los Angeles: 1-888-518-9168