Jennifer Frisk: Unfortunately, we are still making real estate decisions in a very similar manner to how we have always made real estate decisions, from a process standpoint. Traditional landlords and their capital partners don't afford the speed and flexibility to millennial and gen-Z-run companies that they would prefer.

What has changed, and what millennials and gen-Z employees have demanded, is more flexible real estate space, access to amenities, and a culture that trends more heavily towards hospitality than towards office space. We think this is one of the reasons co-working operators have been so successful. It gives companies the culture they want, with the flexibility that often times can't be offered in any other office space solution.

GlobeSt.com: How has L.A. become such a hotbed for tech, media and entertainment? Will that continue and why?

Harding: Talent, weather, lifestyle and the melding of technology and entertainment. We are still the entertainment capital of the world. All of this has existed here for a century, but nobody tapped into it in this way until the last decade. Growing companies being able to hire and retain talent is a critical foundation for growth in all of these industries, and technology and media/entertainment have never been more closely linked. Southern California offers a lifestyle that will always be desirable. With a strong talent base, we will continue to attract and grow the future.

GlobeSt.com: How has technology changed in recent years?

Frisk: What is changing now in Los Angeles is the venture capital and private equity industries. Funding, both venture and otherwise, has significantly increased here throughout the last market cycle. With the growing popularity of Silicon Beach via the investment world, and as a legitimate alternative to Silicon Valley, companies are now around enough peers, talent and money that growth in Los Angeles is justified. This has changed recently, but it will not stop, regardless of the market cycle.