National CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

MarcusMillichap-36-banner
National  + Healthcare  | 

Downtown L.A. Office Leasing Skyrockets

Downtown Los Angeles is seeing a new wave of commercial real estate deals.

Brookfield Property Partners has completed 1.2 million square feet of Downtown L.A. office leasing so far this year. With six model suites completed last summer, they have rented out four so far to technology companies like Grid110 and Theranos Inc.

Many of the deals are expansions of existing space. DoubleLine, an investment-management firm, more than doubled its space to 67,000 square feet in the Wells Fargo Center. Meanwhile, new tech firms are moving in.

This activity has led to year-ago rents over the same time period increasing eight percent in Los Angeles County, to $2.82 per square foot, while vacancy was at 15.1 percent, dropping by two percentage points.

Read More at LATimes.com

Connect With Brookfield’s Bert Dezzutti

Connect

Inside The Story

About Connect CRE

  • ◦Lease
Money360-14-cube
Wonderful-04-cube