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California  + Los Angeles  + Retail  | 

National Brands, Creative/Tech Companies Continue to Flow into DTLA

Downtown Los Angeles’ increasing drawing power is reflected in the growing influx of leading brands and corporations from around the city now making their home in DTLA. Los Angeles Downtown Center Business Improvement District’s (DCBID) 2017 Q3 Market Report revealed the strength and acceleration of market activity.

DCBID’s Nick Griffin says companies that have selected to relocate into DTLA include architecture firm, Jerde Partnership, Bullitt Studios and advertising tech firm Gimbal. Joining them are Adidas and Vans, which announced new office and retail locations respectively, while Nordstrom Rack, H&M’s fashion brand COS, and Sweetgreen restaurant all celebrated Q3 openings.

A big draw is DTLA’s explosive and growing residential population, now at roughly 65,000. In Q3, DTLA experienced delivery of 1,380 apartments bringing the 2017 total to more than 2,700, setting a new annual record. Yet, despite the deliveries, rental rates continue to hold steady, even increasing a couple of percentage points.

DCBID Q3 Market Report Highlights:

Office: 17.6% vacancy; 4.8% decrease YOY

Retail: 4.6% vacancy; 15% increase YOY

Hospitality: 81.1% YTD occupancy rate; .4% increase YOY

Residential: 87.5% occupancy rate for apartments; 4.4% decrease YOY


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Inside The Story

Read more at DCBID Q3 2017 Market ReportConnect With DCBID’s Nick Griffin

About 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.