"The L.A. office market had its best quarter since the dawn of the pandemic, with 3.9 million square feet leased in the last three months of 2024, up from 1.7 million square feet a year earlier, representing a gain of 129 percent."
"A return-to-office required by employers has played a part. Companies are now more confident about how much space they need and their ability to negotiate concessions from landlords."
"Of the top 10 deals last quarter, five were renewals and two were contractions. This indicates that while leasing is growing, it is still largely based on existing spaces rather than new demand."
"Soto predicted office availability would stay high for quite some time, as there are still firms working through the process of rightsizing, meaning some may require fewer offices than before."
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