Technology Is Transforming Los Angeles into a Large-Tenant Market

Los Angeles

Small office users have historically driven leasing activity in Los Angeles, but the booming tech market is changing that. According to a recent tech report from CBRE, Los Angeles is among the fastest growing tech markets in the county. Tech employment grew 13.4% in 2017 to 2018, and high-tech jobs accounted for 84.5% of all new office jobs in the market. This places the city at number 11 in the nation for tech job growth.

“There is a continued convergence of media and technology companies. With the entertainment industry based here, we are seeing more technology companies establish a larger presence,” Rob Waller, EVP at CBRE, tells GlobeSt.com. “There are companies coming in from Seattle and Silicon Valley, and we think that is a trend that is likely to continue as the proliferation of new content continues. That includes both new and traditional content, and so there is broad-based demand across the board.”