Erik Stiebel Erik Stiebel

The Smoky Hollow neighborhood in El Segundo is rapidly becoming the next creative office hotspot on the Westside. Tech startups, creative companies and light industrial users have been signing leases in the submarket, which offers significantly lower rents than nearby markets.

“Smoky Hollow has been a growing hub for creative office and light industrial tenants. The lack of new supply and demand flowing down from the Westside is driving its growth,” Erik Stiebel, an associate at Avison Young, tells GlobeSt.com. “The class-A office average asking rent here is $3.90 per rentable square foot per month full service gross making Smoky Hollow more desirable for tenants. Although the rents are up 50.3% over the last five years, they are still less than other markets in L.A., for example, the Westside is about 50% higher.”

Recommended For You

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

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 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.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.