Artificial intelligence-based fashion firm Finesse has nearly quadrupled its office footprint in Downtown L.A. after inking a sublease for more than 23,000 square feet at The Bloc. The company, which closed on a $40 million Series A round of funding last July, made the move from the Fashion District to the Financial District and is set to stay through January 2028.
McLaughlin said the deal offers a glimmer of hope in what has been a challenging period for Downtown's office market. Right now, the vacancy rate is a little over 30 percent in Downtown.
The Bloc is a perfect example of if you have a really strong mixed-use property, with safety and it's heavily amenitized, you can attract fast-growing tenants, McLaughlin said.
Landlords with workspace worthy of wooing employees from their homes will come out winners, Fillmore said. Landlords in general need to do a better job of adding amenities to their campus and create a pulse and buzz to spark that creativity to get employees wanting to get back into the office.
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