About Los Angeles

Los Angeles is the second largest city and in 2019 performed better than NY (#1) and Chicago (#3).  It is a center for higher learning with 5 major universities.  There is, of course, a huge sector of high tech industries coupled with an immense creative aspect to the economy.  Additionally aerospace, transportation and a large manufacturing base is supplemented by a rapidly growing venture capital investment area.  Some of the largest employers here are:  Northrop Grumman Corp., Target Corp., Kroger, AT&T, AECOM, Farmer's Insurance, Live Nation and Walt Disney Corp. - and it all started with citrus orchards planted by missionaries in the 1700's.  Today the Service sector is the main component of the Los Angeles economy.  The largest employer in the city is the University of Southern California (USC).  The film industry pumps billions of $ into the economy with Hollywood producing 50% of all films that are shot in the United States, as well as all major labels in the recording industry.  Also let's not forget its tremendous sector of aerospace and advanced transportation.

The main submarkets for commercial office space are West LA, Culver City and Santa Monica.

Most of the West LA space is Class A with about 10% of the total market in Century City.  West LA includes about 27,000,000 sq. ft. of space.

Santa Monica has about 16,000,000 sq. ft. and Culver City has about 8,000,000.  The largest buildings include:

Address Name Area (sq. ft.) Floors Year Built/Reno Ownership Submarket  
333 S Grand Ave Wells Fargo Center 2,571,000 54 1982 Brookfield Bunker Hill  
633 W 5th St U.S. Bank Tower 1,433,000 72 1989 Overseas Union Bunker Hill  
333 S Hope St Bank Of America Plaza 1,433,000 55 1974 Brookfield Bunker Hill  
350 S Grand Ave Two California Plaza 1,372,000 52 1992 CIM Bunker Hill  
555 W 5th St The Gas Company Tower 1,303,000 50 1991 Brookfield Bunker Hill  
523 W 6th St PacMutual 446,000 12 1926/2003 Ivanhoe Cambridge Financial District  
650 Hill St St Vincent Jewelry Ctr 435,000 10 1920 St Vincent Jewelry Ctr Financial District  
818 W 7th St 818 W 7th 282,000 12 1925/1985 Downtown Properties Financial District  
601 W 5th St The CalEdison Building 273,000 13 1930/1993 Rising Realty Partners Financial District  
448 S Hill St Pershing Square Building 150,000 16 1924/2007 JMF Development Financial District  
315 W 9th St Coast Savings Building 140,000 12 1926/1987 Omni Group Financial District  
801 S Broadway 801 Broadway 955,561 10 1908/2017 Waterbridge Capital Historic Core/Fashion  
846-860 S Los Angeles St Cooper Building 351,736 11 1924 850-860 S Los Angeles Historic Core/Fashion  
433 S Spring St The Trust Building 320,000 12 1927/2017 Rising Realty Partners Historic Core/Fashion  
205 S Broadway Broadway Media Center 212,283 10 1926/1987 Broadway Civic Center Historic Core/Fashion  
453 S Spring St Spring Arts Tower 193,816 11 1914 Spring Arts Investment Historic Core/Fashion  

There is a good amount of Coworking space in Los Angeles which points towards a robust market in shared professional office space - particularly shared law office space because there are over 25,000 attorneys in Los Angeles which is the 3rd largest pool of legal talent in one city behind New York and Washington DC.  Here are just a few of the coworking facilities you'll find in LA

Blank Spaces 5405 Wilshire Blvd Mid-Wilshire
  529 S. Broadway DTLA
Carr Workplaces 10250 Constellation Blvd. Century City
Convene 333 S. Grand Ave DTLA
Cross Campus 800 Wilshire Blvd DTLA
CTRL Collective 833 S. Spring St DTLA
Dotsspace 113 N San Vicente Blvd Beverly Hills
Epiphany Space 1763 N. Gower Street Hollywood
Ignited Spaces 7080 Hollywood Boulevard Hollywood
Kleverdog Coworking 418 Bamboo Lane Chinatown
Maker City 1933 S. Broadway DTLA
OPODZ 362 E 2nd St. Little Tokyo
The Park 845 South Los Angeles St DTLA
Serendipity Labs 6555 Barton Avenue Hollywood
Techspace 1100 Glendon Avenue Westwood
Theoffice 252 26th Street Santa Monica

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