Los Angeles Market Report Q1 2022
Gaming and media companies continued to be the main contributors to office leasing activity during Q1, 2022. The Los Angeles office market experienced overall net negative absorption to slight net positive absorption across specific submarkets. Many tenants currently looking for office space are focusing on flexible lease terms and plug-and-play space to limit capital expenditures. This created an uptick in sublease activity and positive net absorption in various parts of Los Angeles during the last quarter. However, despite recent job growth, the office market recovery remains subdued. Recovery may continue to be slow and sporadic as companies figure out how and when they will return-to-the-office.