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LOS ANGELES has 8,263 commercial real estate spaces for lease, representing 39,343,800 sqft space.
3486 buildings are available for sale.
In the past 30 days, LOS ANGELES has had 562 spaces leased and 1096 new spaces come on market.
Los Angeles Office and Commercial Space Overview
As the second largest city in the United States, to say that Los Angeles is a cultural and economic powerhouse would be a massive understatement. The city is as diverse as it is sprawling; massive stretches of interstate are synonymous with life in L.A., but offer seemingly endless neighborhoods, suburban cities, and plenty of beautiful vistas that drew so many to the area in the first place.
The city, as you might expect, is a competitive region for business, but its sheer scale offers plenty of opportunity for affordable and spacious commercial real estate. In the last six months alone, over 3,100 listings for office and commercial real estate spaces have been posted, averaging just $42 per square foot/year.
With a population of over 10 million people, the Greater L.A. area can accommodate nearly any industry imaginable, but looking past the glitz and glamour of Hollywood for which its best known, Los Angeles is actually the largest hub for manufacturing in the western United States. Its position on the Pacific Coast also makes it the largest and busiest ports in the country, serving as both a major seaport and an important transportation and trucking hub.
Economy of Los Angeles
Much of Los Angeles’ economy is centered around the entertainment and tourism industries, which combine for more than $200 billion in economic output each year and provide over 2 million jobs to residents of the city. Yet Los Angeles is the nation’s largest manufacturing center on the west coast and serves as an important shipping, international trade, and transportation center thanks to its busy port.
With an annual GDP reaching nearly $900 billion, Los Angeles is the third-largest economic city in the world behind only Tokyo and New York, yet the region’s largest three employers are public: the City of Los Angeles, the County of Los Angeles, and the University of California employ the most residents of the city than any other entity. However, as home to six Fortune 500 companies, the city remains an important hub for business and private enterprise. Companies seeking high visibility (such as those in finance, retail, or professional services) should consider office space in the downtown area. However, due to the city’s sprawling nature, businesses reliant on foot traffic should find plenty of customers throughout the city’s many and varied neighborhoods.
Trends of Los Angeles
A massive influx of high-tech and software development enterprises have popped up in Los Angeles, particularly in Santa Monica (dubbed by some as “Silicon Beach”). However, these tech-savvy companies have also taken hold in West Los Angeles, South Bay, and Downtown, spurred partly by affordable lease agreements and plenty of vacancies post-recession.
In addition to the steadfast entertainment industry, young professionals and creatives have continued to flock to Los Angeles and locating in neighborhoods like Los Feliz, Koreatown, Westwood, and Silver Lake - and retail, restaurants, and entertainment businesses have followed, transforming these older neighborhoods into modern, exciting hubs for life and play.
Where to Rent Office Space in Los Angeles
The majority of high profile office and retail spaces in the city are centered around the downtown area of the city, with Bunker Hill and the Financial District offering plenty of high-rise buildings filled with banks, law firms, and professional services. In the city’s South Park neighborhood immediately south of downtown, fashion, retail, and entertainment are huge players, but due to the proximity to downtown, those seeking visibility and credibility among the world’s largest and most recognizable brands will find healthy demand here.
With the vast and varied nature of life in Los Angeles, the geography of the city and the region’s notorious traffic has made each neighborhood and satellite city much more viable for businesses, professional services, retail, hospitality, manufacturing, and shipping. Those seeking larger, more spacious facilities for warehouses, transportation, or manufacturing should seek commercial real estate further west to Santa Monica, Manhattan Beach, or Inglewood.