Wedbush’s shift to Pasadena is heavily influenced by the pandemic, with President Gary Wedbush stating, "The pandemic and COVID created a different kind of office for us." This reflects evolving workplace dynamics.
The Downtown Los Angeles office market is struggling, with over 30% vacancy. Wedbush's move highlights this trend as workers are unlikely to return, sparking a shift in company needs.
"It's a big deal, a very big decision for the firm," said President Gary Wedbush, emphasizing that their choice was driven by the changing commercial landscape post-pandemic.
The new office in Pasadena boasts shared workspaces, allowing flexibility for employees who are now required to be in-office only a third of the time.
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