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For me, it has been an interesting ride in commercial real estate from when I first came to DTLA in 2008 to now. It was the lowest point of the recession. I was homeless at that time, and then I found myself staying with a friend who was living in a warehouse in the Fashion District. I connected with his landlord and started renting warehouse space for artists to do the same. Because I was so successful at it, I wasn't surprised when the residential market exploded with growth. And equally, I wasn't surprised that the industrial style or warehouse-look became increasingly popular. I quickly found my services more in demand for smaller commercial real estate space than residential space. Also, I liked commercial better, and legally converting commercial space to live/work was and still is far too onerous, costly, and time consuming of a task. And it just was not worth dealing with how over-regulated, and quite frankly, bullshit-oriented the Los Angeles bureaucracy machine made it to make living in commercial space legal. So I quickly focused on office, warehouse, showroom, & retail uses only. At the time, space having an industrial look in Los Angeles office space was a unique thing. And not to disparage it, because it is still as awesome as ever, after 12 years, the warehouse space look in office space is now basically the status quo. So as you probably know the Downtown LA renaissance burgeoned into full flowering mode. Other things happened too. Ecommerce took flight. The face of retail has been changed forever. The type of commercial tenants in DTLA began to change from lawyer offices & sewing factory tenants to artists & "creative" tenants. And guess who specialized in artists and creative tenants? :) Also companies became more ecommerce focused in their use. Manufactures steadily moved overseas and continue to do so with California's over-regulation and increases in minimum wage. As ecommerce flourishes, ground floor space in the Fashion District have seen showroom tenants dropping like flies, and dropping rent prices. This fact, and all the new development that has occurred has created a surplus of cheap cool ground floor space. And this surplus, has also amplified the surplus that has been created in the office market as well, because at the end of the day renters are going to compare pricing, location, style, and amenities and an increase in ground floor space also affects the overall creative office market. Countless abandoned buildings or buildings that were once all sewing factories sold and were converted to live/work lofts. Many also converted into creative office buildings. Brokers sold developers/buyers on the idea that "You can get $3psf if you convert to creative office" and well, buyers bought it. Well, right now, it is pretty damn hard to achieve $3psf for office space in most of DTLA. Another factor has been that, with the conversion of types of uses of space, there was once a far less supply of small office spaces in Downtown LA. As a result, more co-working spaces businesses have popped up, effectively increasing the completion of attaining tenants looking for space for 2000sf or less. So basically, after such a long development and redevelopment run, now everyone and their mother is trying to lease out their commercial space to artists, and smaller commercial spaces are more abundant, and well the DTLA office market is more competitive overall, a lot more competitive. There is a surplus but it is a manageable surplus. It is not a huge, and not sure if I want to say big, but there is definitely strong competition out there. Since everyone is largely doing the same style, the name of the game has largely been who can offer the best price-per-square foot. And renters now a days, care a lot more about price per square foot than they use to. I do not see these trends in the DTLA office space market ending soon. Depending on the economy goes, we could be looking at a continued slight surplus for at least a year. But the good news is there are things that can help landlords be more competitive, aside from price. Amenities are a nice thing, like a roof lounge, an on-site cafe or market, a shared common area of any kind like a game room, kitchen space, meeting/conference room, gym, and et cetera. And of course, we here at dtlarealestate.com are an incredible resource for landlords and tenants of all kinds looking for office space in Los Angeles, not to mention warehouse, showroom, and retail space as well!

Office Space for Lease/Rent at the US Bank Tower Call it what you will; class-a office, luxury office, executive office, or high-end office; it's all the same. The US Bank Tower, one of the most strikingly recognizable pieces of architecture in Los Angeles, and quite possibly, the world, was recently purchased by a Singaporean company for 367.5 million dollars (according to the LA Times). It was previously owned by MPG Office Trust, a big player in commercial office space in Downtown Los Angeles, which also owns other sky-scrapers located in the Bunker Hill area. The building is seventy-three floors, according to Wikipedia, two of which are underground. The building's construction was completed in 1989, also according to Wikipedia. There are a lot of factors which make the US Bank Tower a unique building to rent/lease office space in. First and foremost, as mentioned before, its' fame and icon-stature juxtaposes a prestige and impressiveness to any company renting space inside it. Secondly, it's cornered geometrical circular shape (see floor plan of US Bank Tower below) set it apart from other Downtown LA office buildings. It's a pro and a con actually, because it affords a special character to the spaces inside but also can make it less practical for positioning office furniture and working stations. Third, to the world, the building is representative of the United States as a fixture of liberty and power, making it to what some would call a "target" for enemies of the United States. Personally, I think the third is a silly thing to worry or even think about. The building is so extremely well secured that someone would be foolish to even think about someone even considering making it a target. It's even ridiculous to talk about. Anyway, next subject. The building has an amazing lobby that features tons of glass that allows it to be flooded with natural light. The lobby has rotating glass doors and  extremely beautiful mural of the historical figure from which Los Angeles originally derived its' name. The space for lease that is available is on the 26th and 28th floors. There is a reception area on each floor with a receptionist, small/medium/large conference rooms, a lunch/break area, a common filing cabinet storage area, and offices on the interior and offices on the exterior which of course, have windows and epic views of Downtown Los Angeles. For this deal, all utilities are included along with janitorial services as well. The building has subterranean parking, for an additional daily or monthly fee, along with lots nearby that offer more affordable parking rates. The building has 24 hour access, along with 24 hour security and video surveillance. If you want to make a statement, the US Bank Tower should be your choice if you're looking to rent class-a office space in Downtown Los Angeles. For more information about leasing/renting the US Bank Tower and other commercial real estate information in Downtown LA, call DTLA Real Estate at (213) 304-4727 now!

Awesome executive office space in DTLA's first sky-scraper, and quite possibly still the best. This building has HIGH END PROFESSIONAL SPACE available. Tons of common area available to you in your rent rate! GORGEOUS LOBBY with 24 HR ON-SITE SECURITY GUARD along with 24 HOUR VIDEO SURVEILLANCE in some common areas. Impress your associates and clients with this space. STUNNING CITY VIEW from the 27TH FLOOR. Floor office all the services you will come to expect, and redefine the standard of office work. ALL UTILITIES INCLUDED so you don't pay electricity, water, sewage, or trash. RECEPTIONIST is here for you and included in your rent rate to professionally field your incoming calls. There is a CONFERENCE ROOM where you, your clients, and associates can meet. LUNCH/BREAK area included along with beverage services (for additional charge). Building has 24 HOUR ACCESS. So much more! There is SUBTERRANEAN PARKING available for a monthly fee, along with VALET PARKING for an additional fee. Showings by APPOINTMENT ONLY. If you're looking to rent executive office space in Downtown LA you have come to the right place. It's just a phone call away. Call Donegan at (213) 304-4727 now! Visit www.dtlarealestate.com Office Space for Rent/Lease at the Union Bank Building Office Space for Rent/Lease at the Union Bank Building All DTLA Condos For Sale DTLA Live/Work Lofts for Sale