Most of the construction in Los Angeles is occurring downtown, but it isn't all new construction. After the initial wave of adaptive reuse multifamily projects, which in many ways acted as a catalyst for the Downtown renaissance, the new trend is the renovation of historic office properties. Several creative-style office redevelopment projects are under construction, and will deliver in the next two years to create a healthy stock of creative product.
“Most of the construction occurring in L.A. County is occurring in Downtown Los Angeles, and it isn't all new construction, like the Korean Air Tower,” Nico M. Vilgiate, EVP at Colliers International, tells GlobeSt.com. “It is repositioning older product, like the Harold Examiner Building or the L.A. Times Building. The historic buildings along Broadway that were mothballed have been popular for redevelopment. That is the type of real estate, the type of bricks-and-mortar, a lot of companies are looking for as opposed to your typical class-A high rise.”
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Kelsi Maree Borland
