Is The Westside Office Reign Coming to an End?

With a huge volume of creative sublease supply on the market, the Westside may be returning to an equilibrium.

AleksTrifunovic

The Westside office market may be loosing its crown. This year, the Westside has seen a rapid increase in its creative sublease supply—including more than 1630,000 square feet of sublease space that came on the market from Snap Inc.—and some softening in tenant demand. While the market is still healthy with low vacancy rates and increasing rental rates, these emerging trends are important to watch. Aleks Trifunovic, a principal and the president of Lee & Associates West L.A., says that the market is returning to an equilibrium and a healthier dynamic for both tenants and landlords. We sat down with Trifunovic for an exclusive interview to talk about the market activity this year in West L.A.

GlobeSt.com: Tell me about the activity in the Westside office market this year.

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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.

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