West Los Angeles office market reports

Q1 2024

The Covid-19 pandemic continues to have lingering effects on the West Los Angeles office market. Occupiers continue to reassess the impact of “in-office” vs “hybrid” work policies with occupiers deciding to downsize their office space utilization requirements. While certain office markets of Los Angeles have continued to struggle, the West Los Angeles submarkets have shown leasing trends headed in a positive direction due to major office occupiers becoming attracted to suburban submarkets that offer more neighborhood amenities. Clearlake Capital and Sidley Austin have both pre-leased large spaces in Century City, establishing new headquarters in West Los Angeles upon building completion in January 2026.

75.6 msf


Office inventory remains about the same as Q4 2023, however we now see 1,401,704 square feet of space currently under construction.

-301 ksf

Net absorption

Tenant movement throughout West Los Angeles maintained a high level of negative absorption for the third straight quarter.

$57.27 psf

Direct Asking Rent

Landlords continue to offer generous concession packages in order to attract new occupiers. Recently, rates have slightly increased to $57.27/sf.



Total availabilities have increased to 27.3%. Sublet availabilities have decreased compared to Q3 2023, down to 4.3%.

$627.93 psf

Investment Sales

2024 was off to an incredibly slow start for investment sales, with a total sales volume of just $31.5M with an average sale price of $627.93 per square foot.

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Get in-depth office market reports and insights from commercial real estate experts in the Greater Los Angeles area. Avison Young advisors look at LA's commercial real estate activities and the latest county statistics to provide you expert market research on LA's office properties.

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