Los Angeles Office Rental Market

Los Angeles Office Rental Market

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Known more as an entertainment mecca, specifically, movies, theme parks and music, the City of Angels, also has a thriving business community with a strong appeal for all manner of businesses and employers.

Once inhabited by indigenous tribes, including the Chumash and Gabrelino peoples, and later conquered by Spanish and Mexican explorers, modern-day Los Angeles is known for twelve major industries and thousands of small businesses.

Distinctive regions like the Financial and Arts Districts in Downtown LA; Hollywood, Beverly Hills, and Santa Monica in West LA; Long Beach and Redondo Beach in South LA; Ventura and Thousand Oaks in North LA; and Burbank, Glendale, and Pasadena in the Tri-Cities area all offer excellent and unique incentives for workers and employers to call home.

Among LA's many opportunities include its vibrant restaurant scene and the lifestyle that comes from living in a city near the ocean and mountainous national parks. LA's ports and ocean access have made it a hub for international trade and a center for California's own enormous economy.

From traditional commercial leases to boutique coworking spaces for small teams to large fully managed enterprise offices this exciting and sprawling metropolis of 3.9 million people is perfect

Downtown LA

Financial District Coworking & Office Space Price Map

Vacancy rate: 17.5%
Median price for a dedicated coworking desk: $580
Average commercial rental rate (Price/SF/Month): $3.25

Downtown is LA's "historic core" and city center, home to the Crypto.com Arena, where LA's basketball teams play, and many convention and trade centers. Its skyscraper architecture rises above many of LA's lower-built regions and includes significant 1930s architecture and lots of striking ornamentation — a prime example is the Bradbury Building, where some of Ridley Scott's classic film Blade Runner was shot. Downtown comprises both the Financial District, in which many banks have their main LA offices, and the Arts District, home to dozens of small galleries and artists' lofts. It is also home to the Civic Center and many fashion, banking, theater, toy, and jewelry businesses. According to The Downtown Center Business Improvement District (DCBID):

Additionally, LA's downtown includes several Business Improvement Districts and is a transport hub, which includes the grand Union Station, making it an appealing option for employers. The Univesity of Southern California's (USC) campus is located Downtown, offering its own cultural mini-district and museums.

Financial District

Median price for a dedicated coworking desk: $369

Downtown LA's roots stretch back to the 1800s, when it was first zoned for mercantile and agricultural purposes.

In the early 20th century, banks congregated around South Spring Street, including the corporate headquarters of Bank of America, California Bank & Trust, and many others. The LA Stock Exchange also made its home there until 1986.

Naturally, many department stores and other companies that serviced the banks' employees grew up around the Financial District, linked to the rest of LA by a robust rail system. The arrival of car culture in LA was one factor in Downtown's decline as a financial center as LA's sprawl moved outward.

The Financial District remains Downtown but has migrated to an area along Olive, Grand, Hope, Flower, and Figueroa Streets — from 4th Street to 8th Street — when the original financial hub on Spring Street began declining in the 1960s.

Today, real estate firms, banks, law firms, and corporate offices occupy a mix of recently built glass and steel structures and grand buildings dating back to the early 1900s.

Top Coworking Spaces in the Financial District

Arts Disctrict

Median price for a dedicated coworking desk: $550

DTLA is home to several cultural landmarks, including:

  • The Center Theater Group complex, comprising the Mark Taper Forum, the Ahmanson, and the Dorothy Chandler Pavilion, once the home of the Oscars and now the home of the LA Opera
  • Walt Disney Concert Hall, designed by renowned architect Frank Gehry and home to the LA Philharmonic
  • Grand Central Food Market, home to some of LA's best food stalls, some of which have gone on to become mini-chains
  • The Broad Museum
  • The Ace Hotel, once home to the famed movie studio United Artists, the first studio founded by actual filmmakers, including Charlie Chaplin and Mary Pickford

So it's no wonder that artists gravitate Downtown.

The Arts District sits between Alameda, the LA River, the 101 Freeway, and the 10 Freeway. Vineyards once grew there in the 19th century, before manufacturing took hold in the area. With manufacturing came large warehouses and factories.

When companies, needing more room for trucks, eventually moved elsewhere to new factory buildings, artists seeking more affordable spaces took over the now-vacant warehouses to live in and work. Voila, the Arts District was — at first illegally — born and eventually granted official city designation. Today, the Arts District is rapidly gentrifying (again).

Many business owners appreciate Downtown's walkable scale, which allows for urban advantages, such as impromptu run-ins and possible collaborations with new colleagues.

Its artistic vibe makes it a good location for entrepreneurs. It is constantly being revived and revitalized — like old derelict theaters and lofts being turned into showrooms and coworking spaces. And today, many green-tech companies are planting their roots Downtown.

Top Coworking Spaces in the Arts District

West LA

Santa Monica Coworking & Office Price Map

West LA is closer to the Pacific coast, drawing businesses and residents who love the feeling of freedom that it engenders. It comprises several distinctive regions:

Vacancy rate: 17.4%
Median price for a dedicated coworking desk: $400
Average commercial rental rate (Price/SF/Month): $5.23

Hollywood

Vacancy rate: 18.1% Median price for a dedicated coworking desk: $460 Average commercial rental rate (Price/SF/Month): $4.82

Once called Hollywoodland, Hollywood is synonymous with movies and is also an actual neighborhood. It started life as a real estate subdivision in 1887. At the foot of the Santa Monica Mountains, its sunny and consistent climate and varied landscape were very attractive to filmmakers.

In the early 20th century, Hollywood was indeed an epicenter for filmmaking and was known for its nightlife and entertainment options. Although these have been hit by the pandemic, they are sure to rebound. The Hollywood Bowl and Griffith Park — with its iconic observatory and hiking routes — are two of Hollywood's main attractions.

Between Hollywood and Beverly Hills, West Hollywood is its own incorporated neighborhood and is one of LA's primary design and beauty hubs. It includes the Sunset Strip and is the main hub for LA's substantial gay community. It is also home to a large community of Russian Jewish emigrés.

Top Coworking Spaces in Hollywood

Beverly Hills

Median price for a dedicated coworking desk: $452

Beverly Hills, synonymous in the popular imagination with wealth, is a major hospitality and tourism hub and a destination for luxury shopping and dining.

Once a Mexican ranch whose main crop was lima beans, Beverly Hills was incorporated in 1914. It is indeed an affluent area, made fashionable by movie stars and oil barons who built mansions there in the 1930s, including Edward Doheny's Greystone, which is still open today as a wedding venue. Rodeo Drive, familiar from many movies and TV shows, anchors the "Golden Triangle" luxury shopping area. Beverly Hills does offer cultural attractions beyond shopping and hotels, such as the Wallis Annenberg Center for the Performing Arts.

The adjacent neighborhood of Century City is home to many Hollywood agencies, lawyers, high-rise buildings, and other corporate offices. It's also home to the enormous Westfield Century City, a shopping mall that has threatened the smaller Beverly Hills boutiques.

Top Coworking Spaces in Beverly Hills

Santa Monica

Vacancy rate: 5.1% Median price for a dedicated coworking desk: $625 Average commercial rental rate (Price/SF/Month): $1.13

Santa Monica, a beach neighborhood popular with visitors, also has a diverse economy, including local retailers and bars, production companies and studios, and tech companies.

Santa Monica's modern roots were established by city founder Colonel Robert Baker and his partner, U.S. Senator John P. Jones of Nevada. They bought the land from Don Francisco Sepulveda's heirs, convinced it would become the center of a major commercial region and metropolis. Their hopes that Santa Monica would be LA's main port were not realized — which may have been a boon to the region's attractiveness and later emergence as a pleasure destination, with the Santa Monica Pier remaining a fun family attraction.

Santa Monica's appealing vibe and proximity to the beach attracted many major companies, including Activision and Puma. It's also home to a substantial number of female-owned businesses.

Top Coworking Spaces in Santa Monica

South LA

Long Beach Coworking & Office Price Map

Long Beach

Vacancy rate: 16.6%
Median price for a dedicated coworking desk: $282
Average commercial rental rate (Price/SF/Month): $2.46

Long Beach is roughly 20 miles south of Downtown LA and is the seventh-most populous city in California, with a population of just under 500,000. Nonetheless, it maintains a relaxed, beachside feel.

According to The Port of Long Beach website, with its 22 shipping terminals, the port is:

  • The second busiest port in the United States and the 21st busiest container cargo port globally
  • A generator of $374 billion in direct and indirect business sales yearly
  • The point of contact for nearly one in five loaded containers moving through all U.S. ports

Long Beach is also an oil-drilling town and home to one of California's largest universities, California State University, Long Beach (CSULB).

Top Coworking Spaces in Long Beach

  • WeWork
  • WTC Workspaces
  • Work Evolution Labs

Redondo Beach

Vacancy rate: 1.7%
Median price for a dedicated coworking desk: $515
Average commercial rental rate (Price/SF/Month): $1.20

Redondo Beach is another laidback beach town that attracts surfers, sunseekers, and tourists and today has a population of under 70,000. Redondo Beach's locale, however, makes it attractive to businesses. It's located halfway between the largest airport and the largest seaport in California, so companies like DHL Global Forwarding have set up large corporate quarters there.

North LA

Ventura Coworking & Office Space Price Map

Ventura

Vacancy rate: 1.4%
Median price for a dedicated coworking desk: $405
Average commercial rental rate (Price/SF/Month): $0.95

Ventura, whose Spanish history can be gleaned from its full name, San Buenaventura, went through boom times in the 1920s when oil was discovered there.

These days, it has a population of around 100,000 and a thriving tourist economy thanks to its pretty beaches and Mediterranean climate.

As well as Ventura, Ventura County includes pretty towns and cities, including Ojai and Oxnard.

In 2015, The Washington Post called Ventura "the absolute most desirable place to live in America," based on its scenery and climate. This distinction comes in part from Ventura's excellent life-work balance and the fact that it's only a 30-40 minute drive from Downtown LA (depending on that famous LA traffic).

Ventura County's economy still relies on agriculture, including strawberries (whose 2020 crop value was $575 million), lemons, oranges, and — after its 2018 legalization — hemp. The eco-friendly outdoor clothing company Patagonia is also based in Ventura.

Top Coworking Spaces in Ventura

  • Circle Hub Ventura
  • Connect Ventura Coworking
  • Coastal Coworking

Thousand Oaks

Median price for a dedicated coworking desk: $405

Thousand Oaks is Ventura County's second-largest city and differs from other spots on this list by having some history as a Norwegian colony in the late 1890s. Ranching, agriculture, and the movie industry (particularly in the 1920s-30s) were major industries here, giving way to high-tech and telecommunications companies like Packard Bell in the 60s and 70s.

Industrial parks have played host to companies like Westinghouse Astroelectronics Laboratory. The world's largest biotech company, Amgen, was established in one of Thousand Oaks's industrial parks, Newbury Park. An early theme park, the now-defunct Jungleland USA, once provided trained animals for film shoots, including five of MGM Studio's lions.

Top Coworking Spaces in Thousand Oaks

  • Office Evolution
  • Majestic Workspaces
  • Hub101

Tri-Cities

Pasedena Coworking & Office Space Price Map

In Los Angeles, "Tri-Cities" refers to Burbank, Glendale, and Pasadena. The former is synonymous with film production and is the primary home of Warner Bros. Studios and Disney. The latter offer natural beauty on the east side.

Vacancy rate: 18.1%
Median price for a dedicated coworking desk: $432
Average commercial rental rate (Price/SF/Month): $3.68

Glendale

Vacancy rate: 19.4%
Median price for a dedicated coworking desk: $339
Average commercial rental rate (Price/SF/Month): $3.27

Glendale, roughly 10 miles north of Downtown LA, is becoming increasingly popular with homeowners looking to settle on the trendy east side but who want more space. Many parts of Glendale, a city in the San Fernando Valley, are bordered by hiking trails and can offer views of LA vistas like Griffith Park.

About 200,000 people live in Glendale. Culturally, it's enriched by its sizeable Armenian population. Among the large companies with their U.S. headquarters in Glendale is the International House of Pancakes. Bob's Big Boy chain also started in Glendale.

Glendale is a leading animation hub. Disney, beginning to outgrow its animation studio in Burbank in the 1960s, moved some of its divisions into Glendale, comprising Disney's Grand Central Creative Campus. DreamWorks Animation has its offices and studio here, too.

Glendale's The Americana at Brand mall features 75 shops and restaurants, as well as apartments and condominiums.

Top Coworking Spaces in Glendale

  • Cowork100
  • Virtuosso Business Center
  • My Perfect Workplace

Pasadena

Vacancy rate: 13.3%
Median price for a dedicated coworking desk: $415
Average commercial rental rate (Price/SF/Month): $3.21

Pasadena, a supremely gracious part of LA — with remnants of its Spanish mission past — is now better known for the Rose Bowl and Cal Tech, home to many Nobel-winning scientists. It is also the location of the Jet Propulsion Laboratory, which has made significant contributions to the field of aerospace technology, including NASA's deployment of Rover to Mars.

Old Pasadena, the city's historic core, has been revitalized as a restaurant and entertainment center and is a popular tourist attraction.

Top Coworking Spaces in Pasadena

  • Barrister Suites
  • Industrious
  • WeWork

Search for Coworking Office Space in Los Angeles

Los Angeles is a large, dynamic city with distinctive regions. Each has its charm and advantages for companies looking for flexible office space, including new office models like coworking and managed offices.

As a creative city with a population used to frequent travel, LA is a perfect spot to consider for the needs of the new hybrid workforce.

Commercial Rate Sources

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