Los Angeles 2021 Q3 Market Report

The Los Angeles office leasing market experienced a slight uptick in activity during Q3, 2021. Most of the activity was generated by large enterprise companies in technology and entertainment. Gaming companies led the charge with Riot Games expanding in Santa Monica and Activision leasing office space in Santa Monica and Playa Vista. Technicolor, Apple, and Amazon continue to remain very active in Culver City. Visibility for a full recovery remains murky. Many companies will continue to implement work-from-home policies and shedding office space to “right size”, stunting a rapid recovery. Vaccination rates continue to creep up, and the Los Angeles economy is starting to recover. These fundamentals will be closely watched as we enter the new year.