Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The Los Angeles office market is having a moment, thanks to historically low unemployment rates and a dynamic local economy. According to the third quarter report from Avison Young, the market clocked nearly 450,000 square feet of office absorption in last quarter, bringing year-to-date absorption to 600,000 square feet. Biotech and life science markets are accounting for a large portion of these gains in office space

“Southern California has historically been a hotbed for biotech and life science activity,” Arty Maharajh, research manager for Los Angeles at Avison Young, tells Globest.com. “The Los Angeles market, in particular, has enjoyed a symbiotic relationship with Cambridge/Boston and the Bay Area in life sciences, engineering technology, and venture capital funding. Similar to how Harvard’s medical program and MIT have created a very important partnership, UCLA’s medical program and Caltech strategically collaborate on research as well.”

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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 © 2019 ALM Media Properties, LLC. All Rights Reserved.