LA Flexes Its Creative Muscle When It Comes To Adaptive Reuse, Renovations
07/15/2019The demand for creative office space shows no sign of letting up, which is why landlords throughout Los Angeles are investing heavily to give tenants what they want – and need – in a supply constrained market.
Creative office is quietly moving from a trend designed to lure tech, media, coworking and other, well, creative companies to the new gold standard in today’s workspaces. At least this is the case in creative-heavy cities like Los Angeles.
“The LA office market is still craving creative space,” says Tim Lee, principal at Olive Hill Group, which is headquartered in Culver City. “LA will continue to thrive and change according to tenant demands, and creative office will become even more innovative and intuitive in delivering what tenants desire. For that reason, our firm is bullish on creative office. Its appeal reaches beyond creative industries to the point where this is almost no office tenant category that doesn’t seek modern, amenitized space to some degree.”
Downtown Los Angeles just logged its seventh consecutive quarter of positive absorption thanks, in part, to some of these creative companies.
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