The Greater Los Angeles market has 2.5M SF of office under construction. As the region continues to grow, investors have their sights set on building more. With steady employment and a growing population, the market will appears to remain a steady investment. Growth, however, comes with unique challenges. As tenants everywhere "rightsize," space is continuously becoming available and the remainder needs to be absorbed. Downtown appears to be handling the trend well as the submarket reached its highest net absorption level in years. The region is seeing a continually diversifying tenant base, and as tech grows in most of LA's submarkets and they are becoming a robust supplement to the region's leasing activity. Continued changes in the workplace from the "open floor-plan or private office" debate, to the rise in telecommuting have forced market leaders to react quickly and make savvy decisions to continue attracting modern tenants. How should you be interpreting the market changes? Join us as we dive into the ever changing LA office market, assess its status, and forecast its future.
For more information: Bisnow: Future of Los Angeles Office 2019