Commercial Real Estate for Lease

Office space for rent in the South Bay! Excited about this new listing!  I've been waiting on this one for a while! Welcome to the South Bay Square Building! This is an EXCELLENT creative office building with NEW RENOVATIONS in a nice area of the South Bay! The building exterior was recently painted and the interior hallways & lobby were recently upgraded! This building is positioned in a great location on the corner of Hawthorne Blvd and 154th St, within 4 miles of LAX. The location also features convenient access to the 405, 105, 91, & 110 freeways. The building has 24/7 ACCESS. The units can be leased as-is, or per negotiation, the landlord can improve them to meet your needs like NEW PAINT, NEW FLOORING, & NEW LIGHTING FIXTURES! Lots of units have already been renovated! All the units have GREAT NATURAL LIGHT. Additionally, there is secured underground ON-SITE PARKING! Last but not least, ALL UTILITIES ARE INCLUDED, provided there's no inordinate use.  Ideal for creative companies or traditional office type users like lawyers, accountants, and any industry looking for office use.  One thing that building cannot accommodate is medical office space. Get these Lawndale office spaces for rent before they're gone! Ask us the advantages of signing a five-year lease! On all our listings MINIMAL ONE YEAR LEASE ARE ACCEPTED ONLY, and owner may require a longer than one-year lease for this listing. Showings by APPOINTMENT ONLY. We are a real estate brokerage, if this space doesn’t meet your needs we may have or know about something else that does. Please submit your information on the Quick Contact Form or call/text us at 213-304-4727 now! And don’t forget to follow us on social media @QuixoticRealty, thank you!

I won't lie, I found out about this economic principle on the Netflix show "Explained," the diamond episode. Since then I've been thinking: can DTLA office space be a veblen good? A veblen good is type of product that increases in demand when the price increases. For instance, the quality of attorney services is often fallaciously thought that the higher the hourly the rate, the better the attorney and his or her services. The same goes with diamonds. Some people might say "Oh that diamond is priced so high... it must be of an exquisite quality" or, "I can't get buy my wife that diamond it's too cheap, she'll find out, then I'll never hear the end of it!" But can this phenomena occur in the search for office space? Well, the answer is yes and no. Suppose you're looking at a list of DTLA office spaces and one is ranked $2.60 per square foot and the other rate is $1.50 per square foot. What's the first thing that comes to your mind? Is it, "Wow the latter is a great deal!" or, "The latter must be very bad quality!" Well, I don't know what your answer is, but I could see someone thinking the office space must be of an awful quality. A logical person would visit each office building. She would personally assess the quality of the view, the flooring, the natural light, the ceilings, the lighting, the common areas, the amenities, and et cetera. Then that person would determine for herself whether the space for $1.50 per square foot is simply awful and the rate is indeed justified, or it is simply just a great deal. My concern is that people will assume the latter with my listings that are priced aggressively: not realize it's a great deal and think it must be awful. You might say, "Donegan are you worrying that your clients looking for office space in DTLA are stupid?" My answer to that is, "Not really." I think if people aren't studying the spaces closely, and doing a preliminary search, they might just toss that one out of the pile just because it's so far below the other buildings nearby it's not even worth touring. Actually, I normally assume my clients are smart. I assume they'll shop around. So if I see the market going one way or another, I'll price them in anticipation for that; and expect people to see it's a good deal. But what about those decision makers who aren't meticulous searchers? Ones that make decisions quickly and move forward full throttle. Well, often times, business owners make decisions like this. It's one of the DISC personality types, the D for dominant. And business owners are the ones who rent office spaces. So what is the solution? Well, there is no perfect way to market something, I suppose. I'll continue to assume my renters are smart and see that my listings are priced well. But I'll also keep in mind the possibility that some people looking for DTLA office space may be quick to judge just by the price per square foot being low. Check out our current Los Angeles office space listings DTLA and give us a call/text to check them out, if you're serious about leasing that is!    

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!