LOS ANGELES-Office space used to function strictly as housing the administrative use of a firm. However, in today's diverse economy and the need for firms to recruit the best and brightest talent, office space has become much more, says Neil Resnick, a principal and managing director of the West Los Angeles office of Avison Young. Resnick caught up with GlobeSt.com to further discuss creative space, the local office leasing market and more in an exclusive Q&A.
GlobeSt.com: Tell me about the West Los Angeles office leasing market?
Resnick: Currently the West Los Angeles office vacancy rate is hovering at 13.9% across all submarkets. This market is a dynamic conglomeration of a diversity of users and office product that is just as diverse. It is not uncommon to go from one of the WLA submarkets and see a majority of men and women dressed in very professional attire, to an area that is very casual with no dress code at all. The businesses provide a mix of corporate cultures that serve different industries, audiences and employee types which is ideal from a leasing pool perspective.
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