Chinatown Office Space for Rent — Los Angeles, CA
Chinatown is a prominent commercial center for Chinese and Asian businesses in Los Angeles, CA, and one of the city’s most popular tourist destinations. Initially, the area was a port of entry for Asian immigrants (Old Chinatown), but in 1931, the town moved to make room for Union Station, resulting in New Chinatown.
Hollywood designers designed the Chinatown of today, so many buildings feature pagoda-style architecture and other Asian-specific designs. The area is home to an abundance of restaurants, art galleries, and shopping centers.
If you require reliable Chinatown office space for rent, contact our team. The area has many benefits for working residents, and we can help you search for an appropriate commercial space or business space.
Chinatown (Los Angeles) Office Space – Lease Data & Trends
Despite the economic decline in Los Angeles County due to the COVID-19 pandemic, the region is steadily improving. The current unemployment rate for the county is 8.2%, which is higher than the national rate of 5.2%. However, tech-centric firms and other office-using industries are adding jobs to the market.
Office space occupancy is down for the third quarter in a row, leading to 147,934 square feet of vacant space going back onto the market. However, leasing activity during this period is showing signs of improvement. The recommitment of the Executive Office for Immigration Review to its multi-floor space of 77,678 square feet in the City National Bank Building is one notable highlight.
Chinatown is part of the Downtown Los Angeles submarket. As of Q4 2021, DTLA’s office space inventory (outside of its primary Central Business District) comprises 11,311,640 square feet. The average rent amount for all building classes is $3.96/square foot/month, while the asking price average for Class A buildings is $4.63/square foot/month.
What Our Brokers Say About Chinatown, LA Office Space
Chinatown is one of Los Angeles’s busiest districts. Each day, the neighborhood receives steady foot traffic from consumers and workers. The historic area retains its pagoda-style buildings, though gentrification is changing its economic landscape.
Industrial warehouses, art galleries, authentic dim sum houses, Americanized Chinese restaurants, photography and filming studios, and international grocers drive the economy in Chinatown. With a young, trendy population steadily moving into the area, newer establishments focus less on Chinese culture.
However, the changing landscape does not reduce the demand for Chinatown office space. Professionals and creatives are taking advantage of the area’s rich history and dense population to open new shops, galleries, and venues. White-collar workers account for 87.01% of the working people, and they require office space as well.
For that reason, the demand for shared office space is on the rise in Chinatown. Well-known coworking companies like WeWork and CENTRL have convenient locations nearby, while other independent office spaces allow coworking solutions.
Top Commercial Buildings in Chinatown
130 West Elmyra Street: Located across the street from Los Angeles Historic Park, this industrial property features an open layout and an overhead door for loading and unloading. The property is minutes from Downtown Los Angeles and has easy access to all major Downtown Los Angeles freeways.
712-720 North Figueroa Street: This property sits next to the Kim Sing Theatre, making it an excellent place for creatives who need a place for their business. The storefront office has plenty of natural light and is within walking distance of many local amenities.
711 West College Street: This Class B office building has six stories, 111 surface parking spaces, and 24-hour access. The building offers lots of natural light, great views from the top floor, and has immediate access to Freeway 110.
Get to Know LA’s Chinatown
As a prime tourist destination, Chinatown has plenty to offer everyone. The neighborhood’s 24,000 residents can enjoy Chinatown Central Plaza, a vibrant square covered in neon lights and filled with restaurants and yearly events, or visit the Chinese American Museum to learn more about Chinatown’s history.
Another way to uncover the best-hidden spots in the city is to take the Undiscovered Chinatown Walking Tour. Chinatown has many amazing Chinese and Asian restaurants and Philippe the Original, the home of the first French dip Sandwich.
Why Rent Office Space in Chinatown (Los Angeles)?
Convenience is one of the best reasons to look for a Chinatown office space for rent. The neighborhood is within minutes of Los Angeles’s business districts and creative communities, such as Downtown Los Angeles and the Arts District.
The area is also full of culture and amenities for workers and their families. For instance, you can watch a Dodgers home game in Elysian Park or sample the famous “Slippery Shrimp” at Yang Chow after work.
Nearby Neighborhoods to Set Up Office Space
Chinatown has a lot of opportunities for office space rentals and developments. However, that does not mean you should not explore nearby neighborhoods that may be more suitable for your needs. Check out these locations when you are ready to search for office space for rent.
Boyle Heights: Boyle Heights is a historic Los Angeles neighborhood on the east side of the Los Angeles River. It has a reputation as one of the most notable Chicano/Mexican American communities, and it is home to a thriving commercial real estate market with over 3,363,277 square feet of office spaces.
Downtown Los Angeles: Downtown Los Angeles or DTLA is the city’s central business district with over 500,000 jobs. The 5.84 square mile region is home to many overlapping communities, shopping centers, and more. It is an excellent location to find Class A office space.
Westlake: This neighborhood in Central Los Angeles is densely populated and home of the original El Pollo Loco fast-food chain. Westlake also has plenty of creative space solutions with its commercial real estate market consisting of 4,486,315 square feet of office space.
Contact us when you are ready to find Chinatown office space for rent or need more information on flexible or shared office space in nearby neighborhoods. We provide free services to our tenants and will gladly help you find the best space for your needs.