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Century City lacks full floor availabilities as vacancy rate hovers in the single digits

  • ​From 2014 to today, Century City has transitioned from a market in moderate duress to a market with one of the tightest vacancy rates on the Westside. This has all occurred amid a wave of organic expansions of existing tenants as well as unique migrations of companies from surrounding submarkets.
  • 2014 saw the departures of both Northrup Grumman and MGM Studios, as well as the large downsizing of ILFC. Since then, the market has seen the relocations and expansions from a variety of legal firms as well as IPG’s relocation from West Hollywood to Century City. These movements happened in tandem with a series of other firms from tech, entertainment, and related industries.
  • Shrinking availability has led to improved fundamentals: vacancy has declined 380 basis points and rental rates have increased by 23 percent over the 3 year period.​​

Source: JLL Research

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