Downtown Los Angeles (DTLA) is experiencing increased office leasing activity, posting the region’s second consecutive quarter of positive net absorption, according to a new third quarter report from the Downtown Center Business Improvement District (DCBID). In addition, DTLA’s in-person workplace visits have grown by 35% since the start of 2022.

The report states there has been a 73% increase in leasing activity year-over-year, led by third quarter leases that include Hyperloop’s 50,000-square-foot lease at ROW DTLA, AC Martin’s 21,000-square-foot renewal at Wilshire Grand and Lucas Museum of Narrative Art’s 25,000-square-foot lease at The Bloc.

Meanwhile, the hospitality, retail and residential sectors are posting impressive numbers in the Downtown area. “While we work to support the return of the Downtown office sector, DTLA’s increasingly diversified market is once again proving to be highly resilient in the face of challenging economic conditions,” said DCBID Executive Director Nick Griffin. “Investors continue to see great opportunity and value in DTLA.”