Westlake (Los Angeles) Office Space for Rent
Westlake is a desirable neighborhood located near Downtown. Due to the influx of young people in recent years, Westlake is a hotspot for trendy bars and cheap eateries, as well as independent art galleries.
By 1887, a wealthy population had established several ritzy mansions in the Westlake area, from which businessmen commuted to Downtown LA. Hotel development from the Elks Lodge and Masonic Lodge in the early 1900s also brought in extra business.
Though Westlake hit a rough patch in the ‘90s, the city of LA began a revitalization process in the neighborhood in 2007. The city helped clean up MacArthur Park and set up a weekend art market, bringing in a fresh and vibrant population of creative minds.
Now the neighborhood boasts plenty of diversity, great nightlife, and an exciting art scene. Located next to Koreatown and Historic Filipinotown, there is also a diverse and affordable food scene.
If you’re looking for the perfect Westlake office space in the heart of LA, SquareFoot can help. Keep reading this guide to the Westlake neighborhood and its available office spaces.
Westlake Office Space – Lease Data & Trends
Westlake is part of the LA Central submarket and part of the Wilshire Corridor district. Located just outside the Central Business District, the Westlake district is an affordable alternative for businesses looking for a central location.
According to Cushman & Wakefield’s 2021 Q3 review, technology and media firms are some of the biggest driving factors for economic growth in the LA Central non-CBD market. In Q3 of 2021, Twitch signed a deal for 20,279 RSF in the Arts District, just a few miles away from Westlake.
Due to the pandemic, vacancy rates in the LA Central non-CBD District have increased to 29.3%. Lease rates in Q3 of 2021 declined by 0.8% from the previous quarter, sitting at $3.97/sq ft per month.
Class A space currently costs an average of $4.67/sq ft per month, which is 11.7% higher than the pre-pandemic rates due to the large influx of tech and media firms in this submarket.
What Our Brokers Say about Westlake Office Space
The Central/Downtown LA area is home to tech giants such as AT&T and Twitch. Several banks find their headquarters here as well, such as Far East National Bank, American Business Bank, and Manufacturers Bank. Even Cushman & Wakefield Inc. is here.
Due to the young population that inhabits Westlake, it’s no surprise that there are options for coworking space here as well. Coworking is a dynamic environment where entrepreneurs can interact with like-minded individuals and focus on their work.
Westlake, LA coworking spaces include 1440 Co-working and Office Space, Glitch City, and 1001 Wilshire CoWorking. This is the ideal location for young business owners looking to affordably boost their productivity with Downtown LA at their doorstep.
Top Commercial Buildings in Westlake – Los Angeles, CA
1200 Wilshire Boulevard: This office space for lease is located just two blocks west of the 110 freeway and within walking distance from public transportation. It features a newly renovated lobby and parking spaces that you can reserve.
1533 Wilshire Boulevard: This free-standing office building offers great visibility and is located near a number of amenities including restaurants and retail. This office building is ideal for a creative office, medical office, fitness space, beauty space, and more.
1610 Beverly Boulevard: This two-story office building has tons of natural light and has been recently renovated. Lease the whole building at 5,500 sq. ft. or take a single floor at around 2,800 sq. ft.
Get to Know LA’s Westlake
Westlake has excellent connections to public transportation, such as the purple and red lines of the Metro and several bus stops. It is also conveniently close to the 110 Freeway. Westlake is easily walkable.
A diverse population means diverse food, meaning Westlake has plenty of popular and affordable restaurants. Many eateries provide menus consisting of Korean, Mexican, and American food (such as steakhouses and barbecue).
Some of Westlake’s notable eateries include:
- Langer’s Deli, established in 1947 by a Jewish resident of the neighborhood
- El Pollo Loco, which opened its first restaurant in Westlake
- SiSiG, a Filipino barbecue restaurant
- Jail Joa, a women-owned and operated Korean joint
Westlake is also home to MacArthur Park, which hosts outdoor concerts at the Levitt Pavilion, including some free concerts during the summer.
Why Rent Office Space in Westlake?
Due to the heavy increase of economic activity that companies like Twitch have brought to the area, Westlake is an up-and-coming area that will put your company at the center of the action.
Because the prices in Westlake are still low after the pandemic, the time to rent your office space is now. The influx of tech companies and a predominantly young population will only cause the popularity of the Westlake neighborhood to increase. If you’re looking for a central LA location at a fraction of the price, Westlake is for you.
Nearby Neighborhoods to Set up Office Space
Even if Westlake office space isn’t the perfect fit for you, there are plenty of accessible neighborhoods located close by.
Fashion District: LA’s Fashion District has more than 4,000 retail businesses that sell garments, footwear, etc. Many of these shops are independently owned and operated. It is a BID area committed to helping its local business owners and beautifying the neighborhood.
Silver Lake: Just north of Westlake, Silver Lake is a funky neighborhood full of street art and experimental eateries. With a thriving culture of independent coffee shops, indie music venues, and trendy bars, it’s the perfect spot to set up an entrepreneurial business.
Arts District: Located just three miles from Westlake, the Arts District is one of the economic giants of Downtown LA. Hosting a variety of companies, from engineering and legal firms to tech companies, this is a great place to rent office space. The Warner Music Group even bought a building here recently.
Interested in office space for rent in Westlake? Contact our team of brokers today!