Office Is the Last Piece of the DTLA Puzzle

Carol Schatz is the president and CEO of the DCBID.

The first quarter report from the DCBID, which was recently released, showed strong activity in the retail sector—an asset class that has been slow to join the Downtown resurgence. It is one of the final pieces of the puzzle, but Carol Schatz, the president of the DCBID, says that office is the final asset class that will complete the story. With Warner Music’s recent lease in the Arts District and growing interest from other companies, she is confident that office will soon follow retail.

“Office is one of the final pieces of the puzzle. It is coming back and we are seeing increased interest in office as well,” Schatz tells GlobeSt.com. “Office and retail will allow us to tie the bow on this extraordinary growth that we have been experiencing. All of the indicators show that every market is on fire downtown. It isn’t just residential, but hotels, retail and office as well. The office statistics get better and better, and as people realize what a cool area this is and as we look more like a downtown of a major city, people will come here. We became a 24-seven downtown five years ago.”