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L.A. Sees Surge in Tech Jobs

Los Angeles experienced a 13% growth in tech jobs—making it among the top US markets for tech-related job growth—which helped boost office rents 11%.

John Zanetos John Zanetos is a broker at CBRE.

Los Angeles has seen a recent surge in the growth of tech jobs. According to a new report from CBRE, the L.A. market is the ranked number three in the nation for tech job growth, behind Montreal and Pittsburgh. From 2015 to 2016, tech jobs have grown by 20%. From 2Q15 to 2Q17, the market also saw an 11% increase in office rents to $37.08 per foot on average. In Santa Monica, the top market for tech companies, rental rates have climbed to $71.28. To find more about the tech job growth and how it has impacted the office market in Los Angeles, we sat down with John Zanetos, SVP at CBRE, for an exclusive interview.

GlobeSt.com: Why is L.A seeing such massive growth of tech-related jobs?

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Kelsi Maree Borland

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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