LA coworking concentrates around media, entertainment, and tech pockets
Los Angeles coworking space is concentrating in areas of the market that have traditionally served as home to media and entertainment companies.
March 05, 2019
- Los Angeles coworking space is concentrating in areas of the market that have traditionally served as home to media and entertainment companies. The association of media, entertainment, and coworking can be attributed in part to the nature of entertainment which faces more unpredictable demand. Writers and content creators often require more flexibility and may view the coworking model as a more appropriate form of office tenancy.
- While coworking continues to expand both throughout the region and into other industries, media, entertainment, and tech will continue to drive demand significantly. Coworking operators are highly concentrated in Hollywood, Downtown, and the Westside with a foot print of over 3.7 millions square feet in these markets, mirroring closely the geographic spread of entertainment and media firms. We expect these markets to benefit from additional growth in 2019. Demand for the top 10 media tenants is expected to exceed over 7.7 million square feet in 2019, providing a significant push to both the traditional office and coworking sectors.
Source: JLL Research, The Press-Enterprise