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Office Leasing Activity Slows in West L.A.

Following strong leasing activity in 2015 and 2016, office leasing in West L.A. has normalized, with dropping long-term absorption numbers and declining sales volume.

By Kelsi Maree Borland | Updated on October 26, 2017

Jeff Cowan Jeff Cowan

West L.A. is a pillar of the Greater L.A. office market, but this year, activity has slowed. In the last four quarters, leasing activity has slowed in key L.A. submarkets, including the Westside, and rents have stabilized. On the Westside, asking rents fell 4% quarter over quarter, and 5% for class-A space specifically, according to the third-quarter report from Savills Studley. Year-over-year, rates are flat. Alternative Westside markets like Play Vista are no longer a discount, causing tenants to leave and find alternatives. To find out why activity is slowing and how other submarkets in L.A. are being impacted, we sat down for an interview with Jeff Cowan, senior managing director at Savills Studley.

GlobeSt.com: What has slowed leasing activity in the West L.A. office market? 

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