East Hollywood Office Space for Rent
East Hollywood is an up-and-coming neighborhood with plenty of energy and identity. This region features a young demographic and a diverse population. Bounded on the West and East by Hollywood and Silver Lake, East Hollywood office space for rent is a hot commodity.
East Hollywood features a lower average income than the rest of LA but also has one of the highest population densities. The sheer number of people in the small area means that East Hollywood is a great place for businesses to set up shop.
East Hollywood Office Space – Lease Data & Trends
The Hollywood area has seen an increase in vacancies over the past financial quarter. At the same time, average asking rates decreased by approximately 8% overall, while the total number of new leases increased by 110,334 square feet since Q3 2020. The digital streaming industry is keeping East Hollywood in a healthier economic state than much of greater LA.
Before the pandemic, Hollywood was one of the most sought-after locations for businesses. Activity is still below pre-pandemic levels, but major players such as Netflix moving offices into the area will stimulate growth throughout the following year.
Nearby neighborhoods are continuing to thrive as well. Closeby in DTLA, the city will complete the 1.4 million square foot California Market project by the end of the year. If demand remains low after the completion of these projects, rental asking prices could decline. Investment activity has started to recover, as marked by the sale of The Switchyard class-A creative office campus in the Arts District for $80 million.
What Our Brokers Say About East Hollywood Office Space
Our brokers are very optimistic about the state of East Hollywood. Despite the general decline due to the pandemic, East Hollywood and the surrounding areas are rebounding from the pandemic, and East Hollywood office space is slowly regaining value.
East Hollywood occupies a central location between several markets that are poised for a recovery, so the region will likely benefit from rising property values nearby as more businesses move into the area. Moreover, East Hollywood is a neighborhood particularly popular with young people, giving businesses plenty of new talent to hire.
The greater LA property market is starting to recover after declines from the pandemic. As more companies return to an in-person work schedule, we can expect to see more business investment.
Top Commercial Buildings in East Hollywood
4317 Beverly Boulevard: This freestanding building is the perfect option for retail space and has over 47,000 square feet of leasable property. It sits right in the heart of a nearby residential area, so there is a lot of foot traffic and through traffic on nearby streets. The LA subway stops just less than a mile away as well.
5443 Fountain Avenue: This classically-designed building still features the original stone masonry work from the 50s and provides a large single floor of 7,400 square feet of East Hollywood office space for rent. The building sits less than a half-mile away from the nearest subway stop and features onsite parking for up to 24 vehicles.
649 North Madison Avenue: This unique space has a decidedly modern design with large front windows and a comfortable outdoor patio. It sits in the middle of an upscale residential district full of shopping and cuisine spots. The building also is located just a ten-minute walk to the subway and features six surface parking spots.
Get to Know East Hollywood
This densely populated neighborhood is situated in the heart of central LA. East Hollywood is a diverse region with a high population density of over 32,000 people per square mile. East Hollywood is particularly popular among younger renters due to affordable property values and the ethnic diversity of the neighborhood.
East Hollywood architecture features a glamorous Art Deco-style that dates back to the 50s and 60s. The area has historically been a hub for artists and cultural production and a hotspot for foreign cuisine and shopping. The neighborhood sits right next to the 101 freeway, which serves as a portal to the greater LA area.
Why Rent Office Space in East Hollywood?
East Hollywood is an affordable up-and-coming neighborhood with plenty of opportunities for businesses to set down roots. The neighborhood features a rich array of cultural diversity, including a sizable Thai and Latino community. In addition to the affordable property values, East Hollywood has a wide range of food from various countries around the world.
East Hollywood is currently undertaking several projects to revitalize the neighborhood. American Commercial Equities is completing a 735-unit development project, which experts project will cause a boom of migration and employment in the area. The central location and proximity to downtown mean it gets a lot of foot traffic, especially on the weekends.
Nearby Neighborhoods to Set Up Office Space
Century City: Century City is one of the most prominent employment centers in the entire city and is home to several creative studios, including Fox, ICM, Miramax, and Creative Artists Agency. Century City is also a hotspot for retail, office, and entertainment companies. Century City offers higher asking rates than other parts at around $5.20 per square foot as of Q3 2021.
Downtown Los Angeles: Downtown LA is the busiest district of the city, largely due to its smart urban planning that has created a functional and comfortable city with a unique cultural footprint. Since 2014, the downtown area has seen explosive growth, with investments from major companies such as Anschutz Entertainment, BYD Company, and Cathay Bank. Downtown LA is also right at the heart of California culture.
West Hollywood: West Hollywood (or “WeHo”) stretches over two square miles and is one of the most iconic parts of the LA cityscape. West Hollywood features a bustling designer district and a lot of activity in the entertainment industry. The dense neighborhoods make the region highly walkable. Although it is not technically a municipality of LA, West Hollywood is the epitome of the SoCal lifestyle.
If you would like to learn more about East Hollywood office space for rent, contact us. We would love to discuss options for leasing a space for your business.