Petra Durnin is the director of research and analysis for the Southern California market at CBRE.

Large office tenants are renewing their leases early. According to research from CBRE, office tenants occupying 75,000 square feet or more in the greater L.A. area and Orange County renewed their leases an average of 22 months in advance since 2012. This timing allows users to make the best economic decision and to weigh rising rents. The same report also showed that tenants leased an average of 135,000 square feet with an average lease term of 101 months.

“Large tenants begin evaluating their real estate needs early because they typically require significant lead time to find a new location if the economics or physical attributes of their space or the location don’t work anymore,” Petra Durnin, director of research and analysis for CBRE Southern California and Hawaii, tells “Also, large blocks needed to meet their requirements are difficult to find or for landlords to assemble. There are just 20 blocks of space 100,000 square feet and greater in L.A. County. This has prompted tenants with an average size of 135,000 square feet to renew an average 22 months early over the past six years.”

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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 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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