LOS ANGELES—The office market is on track to close with a bang at the end of this year, according to a new report from Cushman & Wakefield. While the market tempered a bit in the third quarter, it also saw employment gains that will fuel growth in the office market through the end of the year. According to the report, the L.A. office market invigorated by the golden touch of increased construction and redevelopment, particularly in downtown areas. This activity has also led to redevelopment has increased creative office conversions, which has helped to increase both sale and leasing activity. To find out more about these drivers and how the office market is performing and is expected to perform, we sat down with Eric Kenas, market director of research at Cushman & Wakefield, for an exclusive interview.

GlobeSt.com: What is driving the construction and redevelopment activity in Los Angeles?

Eric Kenas: This is a twofold question. The drivers vary from ground-up construction versus redevelopment activity. In DTLA redevelopment activity has many mixed-use applications, including office. Gentrifying old industrial buildings lying vacant for years now serve as trendy innovative retail and creative office projects and include a hotel component. The Broadway Trade Center at 801 S Broadway is an example. There are numerous projects underway in DTLA, many multifamily with retail components. The Wilshire Grand project located at 900 Wilshire is a rare, mixed-use skyscraper development – first of its kind in over 25 years in downtown LA and also includes much-needed hotel space.