Search
 

Could Fashion Tenants Spur Creative Office in DTLA

While much of the manufacturing has moved out of Downtown Los Angeles, fashion brands continue to design and concept new products—and they need offices.

By Kelsi Maree Borland | Updated on January 18, 2018

Shlomi Ronen Shlomi Ronen is the managing principal and founder of Dekel Capital.

Downtown Los Angeles wants creative tenants. The market has an office vacancy rate of 19%, and creative tenants—many believe—are the key to bringing that number down to the city average or 14%. The new Warner Music lease is expected to catalyze creative activity, encouraging more tech and creative companies to come downtown—but there may be a group of creative tenants already Downtown that need space: fashion tenants. A joint venture between Urban Offerings and ESI Ventures is building a creative office property in the fashion district to cater to these tenants.

“There is a good robust demand for retail and creative office in the fashion district. It is unique because it is in the heart of the fashion district, and there are a lot of fashion tenants that still do the design, marketing and sales in Downtown L.A.—but the manufacturing has moved out,” Shlomi Ronen, a managing principal at Dekel Capital and one of the brokers to secure equity and bridge financing for the project, tells GLobeSt.com. “In this particular submarket of Downtown Los Angeles, there is demand from the creative class of the fashion industry that wants to be near the wholesale mart and centrally located near the city.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.