Large consolidation paves way for higher rents
Douglas Emmett, along with QIA (Qatar Investment Authority), an 80 percent partner, purchased the four-building EOP/Blackstone-Westwood portfolio. The estimated purchase price was $1.3 billion with a 3.7 percent cap rate. The buyer, Douglas Emmett, already owned… Read More
The media and entertainment sectors accounted for over a third of all leasing activity during the first quarter. Large entertainment transactions included distributor and producer Netflix signing a 123,300 s.f. lease in Hollywood while talent agency International Creative Management (ICM) leased 108,300 s.f. in Century City.
On-location filming in Greater Los Angeles increased 1.3 percent in 2015 to 37,289 shoot days.… 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.
In the recently released JLL’s 2015 United States Technology Office Outlook, it was noted that technology firms and startups aren’t just exploring new U.S. markets, they’re starting to plant roots. Over the past year, 73 percent of the sector’s office leases represented occupancy growth. According to the report, expansion for the technology industry in… Read More
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