Los Angeles ranks third in the U.S. in terms of total inventory occupied by coworking companies. Most LA coworking companies are concentrated in tech-dense and venture-capital rich Westside submarkets, which command the highest rents. Shared workspace operators in LA have also been drawn to Downtown’s urban vibe… Read More
Over the last five years, foreign buyers have acquired over $9.7 billion of office product in Los Angeles. The Westside and Downtown CBD markets have been primary recipients of international capital. Higher rents on the… Read More
Approximately $298 billion worth of commercial real estate loans are scheduled to mature in 2017, up from $263 billion in 2016.
CMBS totals are expected to reach $126 billion in 2017, up significantly as 10-year loans issued in 2006 and 2007 are coming due. CMBS delinquency rates have increased to 5.03 percent.
The… Read More
What does a former aircraft hangar, automotive plant and produce distribution facility have in common? They are all being re-invented as creative office and leased to high-profile tenants.
The Los Angeles metropolitan area has one of the lowest home ownership rates in California at 46.5 percent and well below the 62.9 percent U.S. national average.
Rising home prices and the Millennial generation’s preference to rent are some of… Read More
Not only does the Los Angeles metro have one of the largest population on the west coast, the region generated $866.7 billion in economic output (Gross Metro Product) placing Los Angeles at the top of the leading west coast markets.
The metro maintains a highly diversified economy supported by high-growth sectors… Read More
Los Angeles unemployment reached 4.3 percent in May, the lowest level in 10 years, signaling full employment. The region’s economic recovery typically lags the state and the nation, but now boasts the lowest unemployment rate.
How much further can the LA economy grow? The Los Angeles Economic Development Corporation (LAEDC) expects the… Read More
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 will lessen the… Read More
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 two properties, previously… 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. The expansion and… Read More