Los Angeles, CA Office Overview
The prosperous Los Angeles real estate scene includes submarkets such as Downtown Los Angeles, Sherman Oaks and San Fernando Valley. With a metropolitan population of over 13 million residents and gross metropolitan product of $866 billion, the local commercial real estate market is vigorously growing, driven by a diverse blend of business and industry.
Downtown Los Angeles hosts a prosperous real estate market. The Hollywood area also attracts considerable attention from real estate investors, and many secondary markets, such as Westlake and Brentwood, also drive demand in the metro.
As of mid-2017, the market encompasses over 101 million square feet of office space in properties larger than 50,000 square feet. The market 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 the city’s history can be dated back to the Spanish conquest in 1542, the office market in the metro area is anything but dated. Over 65% of Los Angeles office space is Class A product, while Class B property accounts for just over 33% of the inventory.
Some of the best known submarkets of L.A. include the entertainment and film production centers of Studio City and Hollywood. Traditionally involved with the entertainment industry, neighborhoods such as North Hollywood and West Hollywood are seeing increasing demand for the inventory of office space they have on offer.
The multi-cultural areas such as the neighborhoods of Chinatown and Koreatown, as well as the ritzy areas of Woodland Hills and Westwood are also popular with real estate investors from around the world.
It's hard to know where to begin, when counting the trophy office properties in the metro area. The Wilshire Beverly Center and the 9595 Wilshire buildings in Beverly Hills certainly belong on the list, as does the Clock Tower property in Santa Monica and the Fox Plaza in Century City.
Los Angeles, CA Commercial Inventory Breakdown
Office Spaces
Total: 209,492,854 SF
By square footage range:
- 50k to 100k SF: 33,595,450 SF / 16.04% of total office
- 100k to 500k SF: 116,426,438 SF / 55.58% of total office
- 500k to 1M SF: 31,228,824 SF / 14.91% of total office
- > 1M SF: 28,242,142 SF / 13.48% of total office
By class:
- Class A+: 16,741,057 SF / 7.99% of total office
- Class A: 102,838,155 SF / 49.09% of total office
- Class B: 65,228,892 SF / 31.14% of total office
- Class C: 2,434,687 SF / 1.16% of total office
Top 10 Largest Office Buildings
in Los Angeles
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| U.S. Bank Tower | 633 West 5th Street, 90071 | 1,432,539 | 1990 |
| 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 | 1982 |
| The Gas Company Tower | 555 West 5th Street, 90013 | 1,345,163 | 1991 |
| California Market Center | 110 East 9th Street, 90079 | 1,296,360 | 2021 |
| Century Plaza Tower North | 2029 Century Park East, 90067 | 1,210,730 | 1973 |
| Century Plaza Tower South | 2049 Century Park East, 90067 | 1,210,730 | 1973 |
| Paul Hastings Tower | 515 South Flower Street, 90071 | 1,180,789 | 1972 |
| City National Plaza - North Tower | 515 South Flower Street, 90071 | 1,171,979 | 1971 |
Largest Office Properties Recently Completed
in Los Angeles
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| California Market Center | 110 East 9th Street, 90079 | 1,296,360 | 2021 |
| 801 Broadway | 801 South Broadway, 90014 | 884,000 | 2021 |
| The Culver Studios | 9336 West Washington Blvd, 90232 | 500,000 | 2021 |
| The Entrada | 6163 West Centinela Avenue, 90230 | 325,000 | 2021 |
| Ivy Station - Offices | 8936 Venice Blvd, 90232 | 266,059 | 2021 |
| West End | 10730 West Pico Blvd, 90064 | 232,489 | 2021 |
| On Vine South | 1341 Vine Street, 90028 | 192,000 | 2021 |
| (W)rapper Tower | 5790 West Jefferson Blvd, 90016 | 180,548 | 2021 |
| On Vine North & The Studio | 1341 Vine Street, 90028 | 179,000 | 2021 |
| 100 North Crescent Redevelopment and Addition | 100 North Crescent Drive, 90210 | 158,666 | 2021 |
Los Angeles, CA Green Office Space
While just under 4% of office buildings larger than 50,000 square feet in the city are LEED certified, that percentage continues to grow. When looking at energy-efficient office buildings as a whole in Los Angeles, nearly 11% are green-rated and over 10% are Energy Star-certified.
As major investors begin to expect green certification for their assets, the city 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 L.A., and the market more than meets those expectations.
A countless number of industries drive the L.A. 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 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 L.A. 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 demand.
Frequently Asked Questions
How much does office space cost in Los Angeles, CA?
The average office rental rate in Los Angeles, CA is $41.39 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways. Check Los Angeles Office Market Trends for more stats.
What is the size of available office spaces in Los Angeles, CA?
The Los Angeles, CA office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 357,754 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Los Angeles, CA is 45 square feet, while the maximum rentable space on the market now is 715,463 square feet.
How do I get office space in Los Angeles, CA?
Start your search for office space in Los Angeles, CA by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Los Angeles, CA?
There are 2,085 office listings on the Los Angeles, CA market. See all available office spaces for rent.
Where to rent an office space in Los Angeles, CA?
Popular Los Angeles neighbourhoods with available office spaces include Central L.A., San Fernando Valley and West Side L.A..
What other property types are available for lease in Los Angeles, CA?
In addition to traditional office spaces, commercial real estate listings on our platform also include coworking & shared office space options, retail spaces, industrial buildings, warehouses, distribution facilities, and more.
Los Angeles Demographics
Population
- Total Population3,966,936
- Male Population(49.5 %) 1,964,984
- Female Population(50.5 %) 2,001,952
- Median Age35.60
Income/Financial
- Average Household Income$96,420
- Median Household Income$62,142
- Median Income Under 25$34,604
- Median Income 25-44$66,871
- Median Income 45-64$69,958
- Median Income Over 65$44,497
News
The years between 2000 and 2020 have proven to be quite eventful for the U.S. office market. The first decade started on the tail end of the dot-com bubble, which resulted in the boom and bust of an unprecedented real estate bubble. Then, the 2010s were marked by growth and consolidation, only t...
Following the great financial crisis of 2008, the U.S. has been experiencing one of the longest economic expansions in history. Production and consumption continue to climb higher and, as a result, industrial property construction continues to increase, as well. In particular, industrial propert...
A decade is a long time, and so much has occurred in our country and around the world in the last 10 years. In particular, rising real estate prices have been one of the prevailing themes throughout the 2010s. Coming off the heels of the Great Financial Crisis, the U.S. economy has trended upwar...