Leasing activity remains elevated at the start of 2025 despite macroeconomic uncertainty

In Q1 2025, the Los Angeles office market reported 3.4 million square feet (msf) of leasing activity, down from 3.8 msf reported last quarter but up slightly from 3.2 msf reported a year ago. This was also higher than the 5-year quarterly average of 2.9 msf indicating increased office space demand despite return to office numbers which have trailed the national average. However, due to the lack of new leasing activity from the technology and entertainment/media sectors, the overall market has been slow to recover with only trophy buildings mostly in Century City seeing rental rate growth from higher occupier demand.

Read the full report