GlobeSt.com: How are these different from live/work lofts that we have seen in the past?

Goldman: The differences lie in the tenants and design. Live/work lofts in the past were usually occupied by mom-and-pop operations—or artists—in class-B or C spaces. In Live Space, users tend to be in the tech/entertainment industry occupying high-end homes.

GlobeSt.com: Why have these spaces increased in popularity?

Goldman: Tech/media tenants have flocked to these spaces in the ever-increasing battle for talent. These spaces provide a more collaborative and comfortable environment, making employees feel they're working in a home away from home. Furthermore, these spaces embrace the “live/work/play” lifestyle, giving workers the chance to be fully immersed in the trendy parts of town. Additionally, companies are attracted to the sense of ownership and privacy that being the only tenant in a building provides while their company is growing in a sort of “stealth mode.”

GlobeSt.com: How is this related to trends in office design, like open floor plans and created office?

Goldman: Live Space offers strikingly similar amenities and design components as the current creative office mold. They are generally fitted with showers, collaborative work areas, outdoor areas, full kitchens, high ceilings, exposed brick, bike/surfboard racks, and are always pet-friendly. The buildings tend to be smaller than creative office buildings—average size is 6,858 sq.ft.—and that difference cultivates a luxurious/trendy home design rather than a “cool” office design. Moreover, a lot of these spaces allow tenants to utilize rooftop space, which most landlords wouldn't tolerate in even the most creative office type setting. Ultimately, the design and amenities of Live Space properties culminate into space where employees feel comfortable and clients feel more than welcomed.

GlobeSt.com: Where are you seeing the highest concentration of these spaces in Los Angeles?

Goldman: The area near and around Abbot Kinney Blvd—in the Venice submarket of Silicon Beach —contains the largest cluster of Live Space properties. Tenants love the fact they're in walking distance to fantastic shopping, dining, people watching, and of course—the beach! Furthermore, the ongoing revitalization of Lincoln Blvd. and Main Street have further driven the demand in this area. You'll begin to recognize Live Space buildings, if you take a stroll from Abbot Kinney to Rose Ave.

GlobeSt.com: Where is this market heading? Do you expect it to grow in supply and popularity, or spread to other markets?

Goldman: This niche creative office sector will continue to prosper in West Los Angeles and beyond as more investors convert properties into Live Space, and more companies gravitate toward the flexibility and autonomy that these workspaces offer. On that note, I expect Live Space to catch on in areas with walkable live/work components near beaches; such as the downtown area of Long Beach or the Mission & Pacific Beach communities in San Diego.

Live space is the next iteration of the live/work unit, and it is becoming very popular. Call it the grown-up version of a live/work units, which are typically used by individuals, like artists or freelancers. Live Space, on the other hand, are hybrid office and residential buildings that are often occupied by larger or more established tech and media companies. The spaces are often dog-friendly properties with full kitchens, showers and outdoor spaces that give employees a “home away from home.” They are spreading throughout the L.A. area with more than 120 properties and 820,000 square feet, mainly on the Westside. To find out more about this trend, we sat down with Grant Goldman, CBRE research analyst, for an exclusive interview.

GlobeSt.com: What is Live Space?

Grant Goldman: Live Space properties are a hybrid of office and residential. Most buildings would appear to be a luxurious modern-style home from the outside with a fun, quirky and bustling office environment inside.

GlobeSt.com: How are these different from live/work lofts that we have seen in the past?

Goldman: The differences lie in the tenants and design. Live/work lofts in the past were usually occupied by mom-and-pop operations—or artists—in class-B or C spaces. In Live Space, users tend to be in the tech/entertainment industry occupying high-end homes.

GlobeSt.com: Why have these spaces increased in popularity?

Goldman: Tech/media tenants have flocked to these spaces in the ever-increasing battle for talent. These spaces provide a more collaborative and comfortable environment, making employees feel they're working in a home away from home. Furthermore, these spaces embrace the “live/work/play” lifestyle, giving workers the chance to be fully immersed in the trendy parts of town. Additionally, companies are attracted to the sense of ownership and privacy that being the only tenant in a building provides while their company is growing in a sort of “stealth mode.”

GlobeSt.com: How is this related to trends in office design, like open floor plans and created office?

Goldman: Live Space offers strikingly similar amenities and design components as the current creative office mold. They are generally fitted with showers, collaborative work areas, outdoor areas, full kitchens, high ceilings, exposed brick, bike/surfboard racks, and are always pet-friendly. The buildings tend to be smaller than creative office buildings—average size is 6,858 sq.ft.—and that difference cultivates a luxurious/trendy home design rather than a “cool” office design. Moreover, a lot of these spaces allow tenants to utilize rooftop space, which most landlords wouldn't tolerate in even the most creative office type setting. Ultimately, the design and amenities of Live Space properties culminate into space where employees feel comfortable and clients feel more than welcomed.

GlobeSt.com: Where are you seeing the highest concentration of these spaces in Los Angeles?

Goldman: The area near and around Abbot Kinney Blvd—in the Venice submarket of Silicon Beach —contains the largest cluster of Live Space properties. Tenants love the fact they're in walking distance to fantastic shopping, dining, people watching, and of course—the beach! Furthermore, the ongoing revitalization of Lincoln Blvd. and Main Street have further driven the demand in this area. You'll begin to recognize Live Space buildings, if you take a stroll from Abbot Kinney to Rose Ave.

GlobeSt.com: Where is this market heading? Do you expect it to grow in supply and popularity, or spread to other markets?

Goldman: This niche creative office sector will continue to prosper in West Los Angeles and beyond as more investors convert properties into Live Space, and more companies gravitate toward the flexibility and autonomy that these workspaces offer. On that note, I expect Live Space to catch on in areas with walkable live/work components near beaches; such as the downtown area of Long Beach or the Mission & Pacific Beach communities in San Diego.