Whether you call it Los Angeles, L.A., or the City of Angels, the second-largest city in the United States is a global metropolis that attracts a diverse array 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 CA covers over 450 square miles and is composed of approximately 40 distinct neighborhoods.
An Exciting Place for Renting Office Space
You will never run out of interesting things to do in the Los Angeles CA area, from shopping at world-class retailers or trying out one of the city’s numerous top-rated restaurants to checking out the Hollywood Walk of Fame or seeing one of your favorite bands in concert. Los Angeles is of course home to the Hollywood film and TV industry. Considered the entertainment capital of the world by many, L.A. has one of every six of its residents working in a creative industry.
While Los Angeles office space is particularly attractive to entertainment and film industries, a variety of other sectors contribute to the city’s vibrancy, including international trade, telecommunications, technology, law, healthcare, transportation, aerospace, fashion, manufacturing, and tourism. Los Angeles office space has even been gaining popularity among hardware startups and tech companies that require larger warehouse spaces, including innovators like Tesla and SpaceX.
Office Space For Rent in Los Angeles CA | Lease Data & Trends
Depending on a variety of factors, Los Angeles CA office space for rent can range from $2 per square foot per month to $6 per square foot per month, with numerous premium commercial real estate options at even higher asking prices. On average, the office space asking price is around $3.525 per square foot per month, while suburban submarkets vary significantly by location.
Of the nearly 240 million square feet of Los Angeles office space, 1.25 million is in Class A buildings. Overall, the vacancy rate for L.A. office space is at about 14.9%.
Flexible and Short Term Office Rental Options
Growing businesses and start-ups in Los Angeles also have a variety of flexible lease options available to them. For example, for businesses that don’t require private space, coworking spaces are located all over the city, such as LAX Coworking, BizHaus, Premier Workspaces; and Procolo, to name just a few of the city’s many coworking options.
In 2021, the average cost per person for a coworking space is $332.
Contact us for help finding available office space for your business in Los Angeles, California. We can help you find the ideal office space rental for your business, from private office space to flexible office spaces, and more.
Popular Neighborhoods in Los Angeles for Office Leasing
Before you start searching for the perfect property for office leasing, it helps to know more about the many fascinating neighborhoods that make up Los Angeles CA, where virtually every street has its own character. Here is our overview of some of the best areas for you to consider in your search for office rental property in the City of Angels:
Downtown Los Angeles
Downtown LA, or the Downtown Central Business District of Los Angeles, is composed of the Bunker Hill and Financial District submarkets. Bunker Hill’s high rises have ample vacancies and have attracted the likes of CBRE Global Headquarters, U.S. Securities and Exchange Commission, Mitsubishi, and Deloitte. Banks, law firms, and real estate companies are among the types of businesses that often rent office space in the Financial District. Some notable tenants in the Financial District include the World Trade Center of Los Angeles, BreitBurn Energy Partners, and Keller Williams. The Bradbury Building, the ARCO Tower, and the US Bank Tower are among the most famous and recognizable properties in the area.
Home to the most recognizable film industry on the planet, the Hollywood district is made up of the neighborhoods 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 in Class A properties. Entertainment and media tenants will find themselves in excellent company with Netflix, Oprah Winfrey Network, and Revolt Media as neighbors in this neighborhood. The famous Capitol Records Building is located here.
Century City is a prominent employment hub, defined by high prices and great 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 searching for properties to lease.
A hub for fashion, arts, and entertainment, South Park is the location of Los Angeles Live, the Fashion Institute of Design and Merchandise, STAPLES Center, and the Los Angeles Convention Center. Modcloth and Incase are among the companies leasing properties for rent in South Park.
West Los Angeles
West Los Angeles is home to many businesses in the hospitality, software, and security industries, and the proximity to the VA Greater Los Angeles Healthcare System and the Veterans Home of California also makes the area a great fit for companies in the healthcare sector. Notable commercial tenants in the district include Red Bull, Riot Games, and Capital Brands (of NutriBullet fame). I-405 runs through the middle of the neighborhood, which is also intersected by Santa Monica Boulevard.
Marina del Rey
One of the few Los Angeles neighborhoods with more Class B than Class A property, Marina del Rey is formed around a small craft harbor that is home to approximately 6,500 boats. Technology-based companies and startups such as Dollar Shave Club and Sony DADC New Media Solutions enjoy office space in Marina del Rey with easy access to Venice Beach and waterfront dining in Fisherman’s Village. In addition to Los Angeles Metro transit options, two free beach shuttles and the summer season WaterBus provide transportation around Marina del Rey.
This beachfront California city is beloved by tourists and popular with businesses as well. 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 a thriving hub for environmentally-friendly businesses. A variety of game development studios also lease office spaces in Santa Monica. Historic properties in the area include the Clock Tower Building and Edgemar.
Mid Wilshire boasts several major attractions, including the La Brea Tar Pits and the Los Angeles County Museum of Art. Corporate headquarters in the area tend to cluster around Wilshire Boulevard and include AXIS Clinical Trials, The Virtual Reality Company, and Global Elite Solutions.
A more suburban neighborhood in the San Fernando Valley, Sherman Oaks office space is occupied by media companies, business and financial consultants, and real estate firms. Ventura Boulevard is the district’s central commercial strip, and Ventura Freeway runs east to west along the Los Angeles River through the center of the neighborhood.
Finding Offices for Rent in Los Angeles CA
Are you searching for office spaces for lease in the Los Angeles area? Our team is skilled in finding office spaces for every type of business, whether it is established or just starting to grow. If you’re overwhelmed by real estate listings or unsure which market is best for your business, we will show you properties with the amenities you need. Give us a call today at +1 (213) 510-3110 to schedule commercial office space tours in the Los Angeles area.
Looking for commercial office space in the Los Angeles metropolitan area? SquareFoot can help. Give us a call at (213) 510-3110.
We’re located at:
530 Wilshire Boulevard
Santa Monica, CA 90401
Get in touch today to find your team’s ideal LA office.