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California  + Los Angeles  + Office  | 

DTLA’s Robust Renaissance Continues

The strength and momentum of Downtown Los Angeles’ Renaissance drove the market to new heights in 2016, according to the recently-published Downtown Center Business Improvement District’s (DCBID) Q4 Market Report. A record-breaking 2,671 residential units came to market in 11 developments in 2016, with an additional 3,968 units breaking ground.

DCBID’s Carol Schatz said, “2016 has truly been a record year for Downtown LA, and the fact that occupancy levels have held strong with all the new inventory coming online has investors confident there is sufficient demand for what is in the existing pipeline, so they are proposing new projects.”

Additional report findings include:

  • 48 new projects were proposed, 23 in Q4 alone
  •  New development spanned nearly all real estate categories including:
    – more than 15,000 residential units
    – 2 million square feet of office space
    – nearly one million square feet of retail
    – roughly 2,000 new hotel rooms
  • 16.8% office vacancy, 4.5% decrease YOY
  • 4.0% retail vacancy, 51.2% decrease YOY
  • $172.05 YTD Average hotel RevPAR, 16.7% increase YOY

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For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Read more at Downtown Center BIDConnect With DCBID’s Schatz

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., 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, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition
  • ◦Lease
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