From coast to coast, our city skylines are a source of pride and community. It’s not surprising that top-tier office buildings in our urban cores continue to report lower vacancies, higher rents and more developer interest.
The anticipated Skyline Review is back, and more advanced than ever before.
Los Angeles has been transforming into an increasingly unaffordable city as home prices and rents have continued to rise and the housing supply has not been able to keep up with demand.
One solution is to build more housing, and since 2015 the City of Los Angeles has seen over 300 building permit requests for new apartment building construction with a potential for almost 11,000* new residential units.
Downtown vacancy has decreased to 16.6 percent from 19.1 percent since 2013, driven by robust tenant migration, countervailing light demand from existing legal and financial services tenants, which continue to seek efficiency and have been cautious to take on additional space.
Downtown’s expanding residential, retail and entertainment base has helped attract companies from outside the CBD, including creative tenants.
Tenant migration will drive Downtown’s evolution by broadening the tenant base across sectors and… Read More
Downtown LA has long enjoyed a decent concentration of law firms, but interest is growing dramatically—simultaneous with the submarket’s vibrant full-time population boom.
So far in this video series, we’ve learned what’s essential to thriving in DTLA (aka, one of the most interesting office markets in the region), and how the area represents an opportunity to do “more with less.” In the final installment of the series, Jordan Gaffney explains the unique… Read More
Eastward expansion continues, for Los Angeles law firms that is. In the first installment of our series on law firm real estate trends, we learned what’s making downtown LA one of the most interesting office markets in the region. Now, Darren Eades, Executive Vice President in JLL’s LA office, reflects on why Westside firms are increasingly setting their sights East.
Diminishing occupancy. Bold new use of space. Landlords with a habit of raising rents. LA’s central business district is on pace to become one of the most interesting arenas of all SoCal commercial real estate markets. And that, explains Tom McDonald, JLL’s Executive Vice President, spells opportunity for law firm tenants looking to optimize their real estate strategy.
While nothing will replace the traditional real estate cliché that it’s all about location, location, location, today law firm’s real estate also needs to be about flexibility, flexibility, flexibility.
Corporations and law firms that make 10 to 15 year plans for their office space needs… Read More
As businesses continue to outsource their IT platforms, collocate and adopt cloud services, more are turning to third-party data center providers for their data center solutions. Because of this widespread shift, available space is tightening and pricing is firming up in many geographic markets.
How can your business successfully navigate the data center market? JLL’s 2015 Data Center Outlook examines current trends across North America and in 17 local metros, offering insights… Read More