Lowe's DTLA Arts District Office Build Inches Closer to Completion

Los Angeles developer Lowe is nearing completion of its latest project. It celebrated the topping off of 2130 Violet Street, an office building in the Los Angeles Arts District. The development totals nine stories and 113,000 square feet, and it is scheduled to open early next year.

2130 Violet Street has all of the bells and whistles of a modern DTLA office building, complete with a rooftop deck for employees, mountain views, indoor/outdoor workspaces with private terraces and, perhaps most impressively for an office building in the Arts District, onsite parking. “The Violet Street office building offers design attributes that were desirable prior to the pandemic and that are now considered even more important for businesses who want to attract and retain employees,” Tom Wulf, EVP at Lowe, tells GlobeSt.com. “Violet Street epitomizes the indoor/outdoor work environment, with abundant windows and doors, balconies and an expansive rooftop lounge along with large flexible floorplates.”

The building also has operable windows, energy efficient systems, including an updated HVAC system.

In addition to the building itself, Lowe is also adding community sidewalks, crosswalks and a traffic signal. They are also installing a green alley to create an attractive environment that connects walkways to cafes and other businesses. Ware Malcomb is serving as the architect on the project, while Swinerton is the general contractor. Cushman & Wakefield’s Mike Condon, Jr., Pete Collins, Scott Menkus, and Brittany Winn are handling leasing.

Although Lowe is including amenities and building features that will be attractive in a post-pandemic world, the Los Angeles office market is expected to make a slow recovery. A recent report from Marcus & Millichap forecasts that office vacancy will grown 160 basis points this year to 18.5%, and office rents will fall 1.4% to $37.50 per square foot. New construction is a contributing factor, according to the report. 4.2 million square feet of new office space will deliver to the market this year, increasing the total office inventory by 1.1%.

However, there have been transactions that point to the contrary. Boston Properties has signed several major lease deals this year at its Santa Monica properties, including a recent 351,000-square-foot lease with a major entertainment tenant, and another earlier this year with Roku.

In addition, the Los Angeles market has fared better than most major metros. Although activity slowed, the market outperformed the nation. Los Angeles, along with Orange County, had only a 28% decrease in large office transactions compared to a 45% decrease nationally.