For the first time, Technology and Coworking have overtaken Media & Entertainment as the top drivers of leasing volume in Los Angeles. A majority of new leases across all major local office markets were attributed to these three industries so far this year, with Retail and Finance rounding out the Top 5. Advertising and other professional services remained key engines of occupancy growth over the past few years.
- Technology employment has grown steadily since 2016, fueling high levels of leasing
- Coworking companies have consistently secured prime office locations over the past few years, fueling their jump to the #2 spot
- From 2015-2018, Media & Entertainment solidly outpaced other sectors as the top driver of new leases