Los Angeles Office Space for Rent
Whether you refer to it by Los Angeles, L.A., or the City of Angels, the second largest city in the U.S. is a global metropolis that attracts a diverse multitude of people and businesses to the cultural, financial, and commercial center of Southern California. Surrounded by the San Fernando Valley, the Santa Monica Mountains, the San Gabriel Mountains, and 75 miles of coastline, Los Angeles covers over 450 square miles and is composed of approximately 40 distinct neighborhoods.
Perhaps best known as the home of Hollywood, L.A. is considered by the Entertainment and Creative Capital of the World, with one of every six L.A. residents working in a creative industry. While L.A. office space might be particularly attractive to the entertainment and film industries, other sectors that drive the city include international trade, telecommunications, technology, law, healthcare, transportation, aerospace, fashion, manufacturing, and tourism. Los Angeles is becoming increasingly popular among hardware startups and technology companies that need larger warehouse spaces, including both Tesla and SpaceX.
A 2018 report by CBRE lists L.A. as the most attractive commercial real estate market in the country, ahead of major U.S. cities such as New York, Washington, D.C., San Francisco, Dallas, and Houston.
Office Space | Los Angeles Lease Data & Trends
Rent for Los Angeles office space ranges from the mid- to high-$20s all the way into the $60-range in some of the western submarkets. The average price for L.A. office space is $40 per square foot, with rents in the Downtown Central Business District slightly higher at $42 per square foot.
Of the nearly 200 million square feet of office space in Los Angeles, 1.25 million is Class A buildings, which has a 15% vacancy rate in the suburban submarkets compared to a 19% vacancy rate in Downtown L.A. Nearly two million square feet of office space is under construction.
Los Angeles Office Space for Rent | Popular Neighborhoods
The Downtown Central Business District of L.A. is composed of the Bunker Hill and Financial District submarkets. Bunker Hill’s high-rises have ample vacancy and attract the likes of CBRE Global Headquarters, U.S. Securities and Exchange Commission, Mitsubishi, and Deloitte. Banks, law firms, and real estate companies commonly rent office space in the Financial District. Notable tenants in the Financial District include the World Trade Center of L.A., BreitBurn Energy Partners, and Keller Williams.
Home to the most recognizable film industry in the world, the Hollywood district contains Studio City, Hollywood Hills, Hollywoodland, and Sunset Strip. Office space rents well above the city average and approximately two-thirds of available office space is Class A. Entertainment and media tenants will find themselves among excellent company with Netflix, Oprah Winfrey Network, and Revolt Media as neighbors. Various MTA, Rail, DASH, and Metro bus routes serve the area.
Century City is a prominent employment hub, defined by high prices and high demand for its nearly 10 million square feet of office space. The neighborhood blossomed from the backlot of 20th Century Fox just west of Hollywood and is ideal for entertainment, media, and advertising agencies. The Red and Gold Lines serve Century City, along with many bus routes.
A hub for fashion, arts, and entertainment, South Park is the location of L.A. Live, the Fashion Institute of Design and Merchandise, STAPLES Center, Microsoft Square, and the L.A. Convention Center. Modcloth, Liftoff Inc., Incase, and The Button/Accessory Connection are a few companies with office space in South Park. Commuters can take the Red, Purple, Gold, and Blue lines as well as dozens of Metro bus lines to South Park. Once you arrive at the Pico Station Stop, nearly everything is within walking distance.
West L.A. sees a strong presence of the hospitality, software, and security industries, while the proximity to the VA Greater Los Angeles Healthcare System and the Veterans Home of California also makes the area ideal for companies in the healthcare sector. Major commercial tenants in the district include Red Bull, Riot Games, and Capital Brands (maker of the NutriBullet). I-405 runs through the middle of the neighborhood, which is also intersected by Santa Monica Boulevard.
Marina del Rey
One of the few L.A. neighborhoods with more Class B than Class A property, Marina del Rey is formed around a valuable small craft harbor that is home to approximately 6,500 boats. Technology-based companies and startups like YepChat, Dollar Shave Club, Sony DADC New Media Solutions, and Yacht Club Games enjoy office space in Marina del Rey with easy access to Venice Beach and waterfront dining in Fisherman’s Village. In addition to L.A. Metro transit options, two free beach shuttles and the summer season WaterBus provide transportation around Marina del Rey.
This beachfront city is popular with tourists and businesses alike. Santa Monica is on its way to being completely energy independent, and prioritizes alternative fuel, sustainable water sources, green building codes, and zero waste initiatives, creating an ideal hub for environmentally-friendly businesses. A variety of game development studios are also based in Santa Monica.The neighborhood is incredibly bike-friendly, and easily accessible via car, bus, or light rail.
This centrally located district is home to many major attractions including the Miracle Mile shipping district, the La Brea Tar Pits, and the L.A. County Museum of Art. Corporate headquarters in the area tend to cluster around Wilshire Boulevard and include AXIS Clinical Trials, The Virtual Reality Company, Atkins Research Global, and Global Elite Solutions. The Purple Line stops in Mid-Wilshire along with many bus routes.
A more suburban neighborhood in the San Fernando Valley, Sherman Oaks office space is occupied by a variety of media companies, business and financial consultants, and real estate firms. Ventura Boulevard is the district’s central commercial strip. Ventura Freeway runs east to west along the Los Angeles River through the center of the neighborhood.
Getting Around Los Angeles
Los Angeles is a city that was built for cars and driving is still the primary mode of transportation to and from work. Despite a reputation for one of the worst rush hours in the country, Los Angelenos tend to spend less time commuting than those in other major cities like Manhattan, Philadelphia, and Washington, D.C. The major thoroughfares in L.A. are designed for large volumes of traffic and include 1-5, I-10, US Route 101, Sepulveda Boulevard, and Foothill Boulevard.
Public transit routes center around Downtown, but the L.A. Metro is working on many new developments that will expand options and increase accessibility. These new developments are primarily due to the anticipation of the 2028 Olympic games and include extending the Westside Subway between Downtown and Westwood, creating a Downtown Regional Connector, and more.
The L.A. County MTA currently operates an extensive bus system including: local and commuter bus services contracted through L.A. Department of Transportation (LADOT), six light rail lines (Red, Purple, Gold, Blue, Green, and Expo), the Orange and Silver bus rapid transit lines, the Metrolink commuter rail, and various Amtrak inter-city passenger trains. Union Station is the primary transportation hub in northern Downtown.
International and regional travel is incredibly accessible with Los Angeles International Airport (LAX), L.A./Ontario International Airport, Hollywood Burbank Airport, Long Beach Airport, and John Wayne Airport all serving the L.A. area.