Tim Lee Tim Lee is the VP of corporate development and legal affairs at Olive Hill Group.

There has been much effort in the last few years to attract more office tenants to Downtown Los Angeles. While the most recent report from the DCBID shows that the office vacancy rate is declining, at 17%, it is still one of the highest in the greater Los Angeles area with a large amount of high-rise office space available. Olive Hill Group recently renovated a small office property adjacent to Pershing Square. While it is surrounded by high-rises, tenants have shown strong interest in the smaller size of the property.

“There is demand in Downtown L.A. for smaller spaces and smaller buildings where people can get in and out very quickly, and where tenants don’t have to pay the high maintenance fees that you have to pay in a larger, 50-story building,” Tim Lee, VP of corporate development and legal affairs at Olive Hill Group, tells GlobeSt.com. “A lot of the tenants that we are talking to want to be in Downtown Los Angeles because there are a lot of great housing options here, but they don’t want to pay sky-high rents.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.

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 © 2023 ALM Global, LLC. All Rights Reserved.