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Downtown L.A.’s Office Market is Primed for the Future of Work

5/24/22

This update was written and provided by the Downtown Center Business Improvement District (DCBID) in Los Angeles

As businesses begin to welcome their workforces back to the office, the DTLA Office Market is more than primed for the resurgence, according to the Downtown Center Business Improvement District’s (DCBID) ‘2022 DTLA Works: Office Guide’ report. With 37 msf of traditional and creative office space, DTLA has an unparalleled collection of upgraded Class A towers, historic buildings, and creative industrial conversions for every space requirement. The report’s case studies reveal the tens of millions of dollars property owners have invested to transform their properties, adding health and wellness features, indoor/outdoor workspaces, and on-site amenities and services that are highly desired by today’s employers and their workers. The report also sheds a highly informative light on how the renaissance of the past two decades has revitalized the area’s urban fabric, transforming DTLA into a place where employers and their employees want to work rather than have to work.

The DCBID’s guide illustrates how these advantages have DTLA primed for the future of work, where flexible and hybrid work environments with walkable amenities deliver superior work-life balance. And when you combine DTLA’s plethora of office options with its vibrant, amenity rich urban landscape, you have a blossoming market ready to meet the moment – ready to welcome back Southern California’s largest workforce with an organic integration of work and life not found anywhere else in Los Angeles.

“When you combine DTLA’s central location, wealth of infrastructure, transit accessibility, and unmatched density of retailers, amenities, and entertainment offerings, you have a destination where workers and companies alike want to be,” state Suzanne Holley, DCBID President and CEO. “And with DTLA’s economy gaining steam, this trend will only continue to accelerate.”

The report also identifies the geographic clusters that have emerged in both product offerings and types of tenants that have gravitated to them: from the Financial District’s soaring skyscrapers and the architecture, design, legal and financial firms that call it home; to the Historic Core’s classic architecture and ornate movie palaces and the unique fashion and lifestyle brands that have revitalized the dynamic retail corridor; and finally, to the Arts District’s converted industrial buildings that have become a haven for technology, media, and other creative companies.

Long the home of traditional tenants in finance, law, insurance, and real estate, DTLA now boasts tenants in most every category in all corners of the market.

“When you consider how important work-life balance has become, walkable submarkets such as DTLA are going to continue to be coveted by employees,” added Nick Griffin, the DCBID’s Executive Director. “Social interaction, creative collaboration, opportunities for mentoring, and organizational culture are the intangible but invaluable things we have all missed while working remote.”

While the full story of ‘return to work’ is yet to be written for the commercial real estate industry, DTLA is perhaps more ready than ever recapture its place as the employment hub of the region.


The full ‘DTLA Works Office Guide’ Report can be viewed at: downtownla.com/office-guide-2022










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