Los Angeles 2019 Q4 Market Report
2019 exceeded expectations in terms of commercial real estate growth as it relates to office space. Large technology and media players like Facebook, Netflix, Amazon, and Google acquired space in massive amounts and at a rapid pace. New developments, catering towards these types of users, were extremely successful. Co-working operators also added to this growth and pace. As we entered into 2020, activity slowed slightly as we saw negative net absorption. Co-working operators’ activity has tailed off, in large part due to WeWork’s instability, which has contributed to this slight slowdown. Several new developments are being constructed on the Westside, including Hine’s West Edge and McCarthy Cook’s LUMEN.