Los Angeles, CA Office Overview
The prosperous Los Angeles real estate scene includes the Downtown Los Angeles, Santa Monica, and Hollywood commercial real estate submarkets. With a metropolitan population of over 13 million residents and gross metropolitan product of $866 billion, the Los Angeles commercial real estate market is vigorously growing, driven by a diverse blend of business and industry.
As of mid-2017, the Greater Los Angeles commercial real estate market encompasses over 101 million square feet of existing office space in properties larger than 50,000 square feet. The office market in Los Angeles is thriving, thanks to the integrated transportation system of Southern California, which supports a myriad of businesses in the metro area.
Los Angeles, CA Office Inventory Description
While the beginning of Los Angeles can be dated back to the Spanish conquest in 1542, the office market in the metro area is anything but dated. Over 65% of L.A. office space is Class A product, while Class B office property accounts for just over 33% of Los Angeles'; office inventory.
Some of the best known office submarkets of LA include the entertainment and film production centers of Century City and Hollywood, the multi-cultural areas of Chinatown and Koreatown, and the ritzy areas of Wilshire and Santa Monica.
It's hard to know where to begin, when counting the trophy office properties in metropolitan Los Angeles. The Wilshire Beverly Center and the 9595 Wilshire office buildings in Beverly Hills certainly belong on the list, as does the Clock Tower office property in Santa Monica and the Fox Plaza on the Century City office scene of Los Angeles.
Los Angeles, CA Commercial Inventory Breakdown
Office Spaces
Total: 189,119,683 SF
By square footage range:
- 50k to 100k SF: 30,779,210 SF / 16.27% of total office
- 100k to 500k SF: 108,204,973 SF / 57.22% of total office
- 500k to 1M SF: 25,967,900 SF / 13.73% of total office
- > 1M SF: 24,167,600 SF / 12.78% of total office
By class:
- Class A+: 14,281,608 SF / 7.55% of total office
- Class A: 98,110,956 SF / 51.88% of total office
- Class B: 62,842,227 SF / 33.23% of total office
- Class C: 1,437,780 SF / 0.76% of total office
Top 10 Largest Office Buildings
in Los Angeles
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Sears Historic Mail Order Building - Redevelopment | 2650 East Olympic Blvd, 90023 | 1,840,000 | n/a |
| Warner Center Business Park - Redevelopment | 20950 Warner Center Lane, 91367 | 1,480,000 | n/a |
| U.S. Bank Tower | 633 West 5th Street, 90071 | 1,432,539 | 1990 |
| CityNational@2Cal | 350 South Grand Avenue, 90071 | 1,420,000 | 1990 |
| Bank of America Plaza | 333 South Hope Street, 90071 | 1,405,428 | 1974 |
| Wells Fargo Center North Tower | 333 South Grand Avenue, 90071 | 1,400,639 | 1981 |
| The Gas Company Tower | 555 West 5th Street, 90013 | 1,345,163 | 1991 |
| Wilshire Grand Center | 900 Wilshire Blvd, 90017 | 1,325,100 | 2017 |
| California Market Center | 110 East 9th Street, 90079 | 1,296,360 | 1957 |
| Century Plaza Tower North | 2029 Century Park East, 90067 | 1,210,730 | 1973 |
Most Recently-Built Office Buildings
in Los Angeles
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Wilshire Grand Center | 900 Wilshire Blvd, 90017 | 1,325,100 | 2017 |
| The Mix at Harman Campus - 8500 Balboa Blvd | 8500 Balboa Blvd, 91406 | 420,489 | 2017 |
| ICON | 5800 West Sunset Blvd, 90028 | 325,757 | 2017 |
| C3 at Culver Pointe | 5800 Bristol Pkwy, 90230 | 281,400 | 2017 |
| At Mateo | 555 South Mateo Street, 90013 | 230,000 | 2017 |
| Santa Monica Gateway | 2834 Colorado Avenue, 90404 | 205,215 | 2017 |
| Pen Factory - West Building | 2701 Olympic Blvd, 90404 | 132,200 | 2017 |
| Fourth & Traction | 963 East 4th Street, 90013 | 130,000 | 2017 |
| 1601 Vine Street | 1601 Vine Street, 90028 | 115,591 | 2017 |
| Formosa West at The Lot | 1041 North Formosa Avenue, 90046 | 108,000 | 2017 |
Los Angeles, CA Green Office Space
While just under 4% of Los Angeles office buildings larger than 50,000 square feet are LEED certified, that percentage continues to grow. When looking at energy-efficient office buildings as a whole in metro L.A., nearly 11% are green-rated buildings and over 10% are Energy Star- certified.
As major investors begin to expect green certification for their office assets, the City of Los Angeles has demonstrated that it is ready to meet the expectations of the global investment community by requiring that all new buildings over 50,000 square feet meet LEED building standards.
The 2017 National Green Building Adoption Index looked at commercial office properties in 30 major U.S. markets and found that, including EPA Energy Star-labeled buildings, the percentage of green certification has increased from under 5% in 2005 to 38% as of mid-2017. The Los Angeles metropolitan area placed 13th in this prestigious annual survey.
Los Angeles, CA’s Top Office-Using Sectors
As the second most populous city in the U.S. and the cultural, financial and commercial center of Southern California, the international investment community expects stable and predictable long-term performance from the Los Angeles office scene, and this market more than meets those expectations.
A countless number of industries drive the LA office market, including entertainment, aerospace, technology, finance and telecommunications.
- Entertainment – Companies such as Capitol Records, DreamWorks, and NBC Universal contribute to Los Angeles' high rate of office-working employment.
- Aerospace – Boeing, Northrop Grumman, Aerojet Rocketdyne, and Honeywell Aerospace are all located in Los Angeles.
- Technology – The demand for Class A office space in Los Angeles is driven in large part by the high-tech industry, including companies such as Simplicit Technologies and Clean Water Technology.
- Finance – Banking and financial services businesses create large amounts of white-collar employment and demand for LA office space from companies such as Raymond James and Prudential.
- Telecommunications – In addition to financial services, companies in the technology sector such as CBRE Group, AECOM Technology Corporation, and Chrome River Technologies also propel the demand for office space in Los Angeles.
Los Angeles Demographics
Population
- Total Population3,900,794
- Male Population(49.6 %) 1,933,424
- Female Population(50.4 %) 1,967,370
- Median Age34.90
Income/Financial
- Average Household Income$79,303
- Median Household Income$50,205
- Median Income Under 25$26,253
- Median Income 25-44$52,923
- Median Income 45-64$56,513
- Median Income Over 65$37,157
- Boyle Heights Demographics
- Canoga Park Demographics
- Central - Alameda Demographics
- Chatsworth Demographics
- Downtown Los Angeles Demographics
- Downtown Santa Monica Demographics
- East Hollywood Demographics
- Encino Demographics
- Florence Demographics
- Historic South-Central Demographics
- Hollywood Demographics
- Koreatown Demographics
- Mid-City Santa Monica Demographics
- North Hollywood Demographics
- Northridge Demographics
- Pacoima Demographics
- Panorama City Demographics
- Pico - Union Demographics
- Sawtelle Demographics
- Sherman Oaks Demographics
- Sun Valley Demographics
- Sylmar Demographics
- Valley Glen Demographics
- Van Nuys Demographics
- Westchester Demographics
- Westlake Demographics
- Westwood Demographics
- Woodland Hills Demographics
News
The transactions that closed across the six California office markets we analyzed totaled nearly $5 billion in sales. The quarter marked a 36% increase compared to Q1, however, the sales volume dropped 12% year-over-year.
Q1 Chicago Commercial Report: Office Sales Volume Rises 41% Y-o-Y, Industrial Prices Close Best Q1 in 5 Years
April 23, 2018
The Chicago commercial real estate market seems to be experiencing a growth spur, at least as far as the office and industrial sectors are concerned. While the first half of 2017 signaled a significant slowdown for the Chicago office market, the final months of the year saw sales activity recove...
Los Angeles, CA zip codes
- 90005 Office Space
- 90010 Office Space
- 90012 Office Space
- 90013 Office Space
- 90014 Office Space
- 90015 Office Space
- 90017 Office Space
- 90025 Office Space
- 90028 Office Space
- 90036 Office Space
- 90038 Office Space
- 90045 Office Space
- 90048 Office Space
- 90057 Office Space
- 90064 Office Space
- 90066 Office Space
- 90210 Office Space
- 90211 Office Space
- 90212 Office Space
- 90230 Office Space
- 90232 Office Space
- 90401 Office Space
- 90404 Office Space
- 91311 Office Space
- 91364 Office Space
- 91367 Office Space
- 91403 Office Space
- 91406 Office Space
- 91502 Office Space
- 91505 Office Space
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Neighborhoods
- Beverly Grove Office Space
- Brentwood Office Space
- Canoga Park Office Space
- Century City Office Space
- Chatsworth Office Space
- Del Rey Office Space
- Downtown Los Angeles Office Space
- Downtown Santa Monica Office Space
- East Hollywood Office Space
- Encino Office Space
- Fox Hills Office Space
- Hollywood Office Space
- Koreatown Office Space
- Mid-City Santa Monica Office Space
- Mid-Wilshire Office Space
- North Hollywood Office Space
- Palms Office Space
- Pico - Union Office Space
- Playa Vista Office Space
- Reseda Office Space
- Sawtelle Office Space
- Sherman Oaks Office Space
- Studio City Office Space
- Sunset Park Office Space
- Tarzana Office Space
- Van Nuys Office Space
- Westchester Office Space
- Westlake Office Space
- Westwood Office Space
- Woodland Hills Office Space
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