LOS ANGELES—“Los Angeles' increasingly intertwined tech, newmedia and entertainment companies continue to account for asignificant percentage of the market's overall leasing activity,”says Studley corporate managing directorJon Azulay, who is one of the recognized“Tomorrow's Leaders” for Southern California, in the June issue ofReal Estate Forum. He notes that, as a result of thisleasing activity, the city is “developing into a vibrant,entrepreneurial environment as younger companies select L.A. fortheir headquarters operations.”

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This leasing activity is underscored by the expanding tech andentertainment companies, like Google,Beats by Dre and Riot Games, allof which have offices in the L.A. area. Azulay uses the example ofRiot Games' recently signed lease for Element LA, a284,000-square-foot creative office campus. This was the largestlease transaction in several years. Riot Games then followed it upwith an additional lease for 77,000 square feet atKilroy's Westside MediaCenter.

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“This activity will likely continue as L.A., from a real estatecost perspective, is more affordable than some other tech hubs suchas San Francisco,” Azulay explains, adding that limited supply onthe Westside is becoming a danger “not only driving up the rentsbut resulting in building sales at record-breaking prices.”Companies that cannot afford to be in the Westside markets areseeking creative office space in the arts disctrict and the SpringStreet cooridor downtown.

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Azualy has nearly 10 years of experience in thecommercial real estate sector, and was recentlypropmoted to his position of corporate managing director last year.To read more about why Azualy's rise to the top, be sure to checkout the—soon to be published—June issue of Real EstateForum.

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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.