Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Andrew Lustgarten Andrew Lustgarten is a senior managing director at Savills Studley.

Office leasing in Downtown Los Angeles is slowing down. The dearth of tech tenants or interest from tech tenants in the market has been a major reason for the anemic leasing activity, especially as traditional office users have rightsized their office square footage. The slowed leasing activity will almost certainly put downward pressure on rents, but for now, effective rents have continued to increase to $30 per square foot, according to research from Savills Studley. We sat down with Andy Lustgarten, senior managing director in Savills Studley Downtown Los Angeles office, and Jeff Cowan, senior managing director in Savills Studley’s West Los Angeles office, to talk about office leasing in Downtown Los Angeles and how it will impact rents.

GlobeSt.com: Why has DTLA leasing activity been impaired because the market is a hub for professional services firms?

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.