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Office Freedom
Office Freedom
  • 1 Minute Read
  • 03rd April 2009

Los Angeles Office Market in 2009

Most economists have predicted an optimistic end of 2009 for the US. It has been forecasted by some commercial office space experts such as Cushman and Wakefield that the USA will be on its way of recovery from the downturn in the last quarter of the year. The forecast made for Los Angeles office market looks good, especially for the Central Business District, from a National perspective.

Through the downturn, Los Angeles County economy weakened, however the Central Business District hold strong in 2008, despite the large number of financial and legal enterprises being the main tenant base.

First quarter of 2009 has shown that some of the prediction may be too optimistic as a giant Downtown Los Angeles landlord announced it may seek bankruptcy. Landlords are currently struggling as the vacancy rates have increased from 11% last year to 14% in the first quarter of 2009.

Tenants are mainly looking for short and flexible leases, and as a direct consequence of job losses, are also looking at downsizing. The office market is currently favourable to tenants and getting tuff on landlords.

Lease rates are dropping, and some great deals can be made, especially in West LA. To find a flexible and short term agreement, executive office suites will be ideal. The business center operators offer contracts from 1 month to 5 years and all tenants can downsize or upsize as they go. The price for these types of offices is all inclusive of services such as furniture, IT & Telecom and many more.

To find out more about this great office solution customized to your business, please contact Search Office Space on 888-989-0007 or go to to browse the list of properties.

Written by Emily Mouquot, Marketing Director.