- New office leasing activity since 2019 has trended steadily upward, with Los Angeles reaching approximately 17.2 million square feet of cumulative new leases by 2026 YTD. Momentum accelerated beginning in 2023 as occupiers re-engaged the market to support in-person collaboration and business development initiatives.
- While Austin established an early lead and has grown to roughly 19.5 million square feet of new leasing, Los Angeles has narrowed the gap in recent years, surpassing Dallas at approximately 16.0 million square feet and maintaining a significant scale advantage over Nashville, which has reached 8.6 million square feet even with only about one-third of Los Angeles’ total inventory.
- Despite several high-profile headquarters relocations, many large tenants continue to maintain or establish a Los Angeles presence, reinforcing the market’s role as a strategic hub for client access and revenue generation and supporting renewed leasing momentum in the current cycle.
Shane Halpern
Los Angeles