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2015 Was A Strong Year for L.A. Office

LOS ANGELES—Leasing volume hit 19.5 million square feet in 2015, the strongest leasing year since 2001, according to the latest office report from Savills Studley.

Jeff Cowan: “There was a lot of activity last year being driven mostly by the tech market and the financial market.” Jeff Cowan: “There was a lot of activity last year being driven mostly by the tech market and the financial market.”

LOS ANGELES—The numbers are in for the year, and it turns out, 2015 was a strong year all around for the office leasing market. Leasing volume hit 19.5 million square feet last year, making it the strongest year for office leasing since 2001, according to the office market report from Savills Studley.

“There was a lot of activity last year being driven mostly by the tech market and the financial market,” Jeff Cowan, senior managing director at Savills Studley, tells GlobeSt.com. “That has driven up demand and consequently, landlords have driven up rates and reduced concessions.

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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