Current occupants, technology, creative and co-working tenants could drive as much as 44 million square feet of new creative office space demand in the Los Angeles region in the next few years, according to the latest research by CBRE Group, Inc.
Growth in start-ups over the next five years alone could total 4.8 million square feet in creative space needs. L.A.’s roughly 1,900 new start-ups – primarily media, entertainment and software companies – commanded 48% of the $7.6-billion in funding since mid-2013 in Los Angeles and Orange County.
CBRE’s Petra Durnin says, “In the next five years, creative space will be synonymous with office space.” She noted that 30 million square feet of office leases will expire in the next five years, which is likely to translate into “some form of creative space.”
Photo credit RMA Photography Inc.
For comments, questions or concerns, please contact Dennis Kaiser
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
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