Quote:
Originally Posted by alki
Good article. I worry that DT will have trouble competing with Playa Vista for tech:
There, companies such as Google Inc.'s GOOG -0.19% YouTube division and advertising company 72andSunny inhabit the low-slung former headquarters of Hughes Aircraft Co.—founded by aviator Howard Hughes—and relax at picnic tables outside their offices, flanked by barbecue pits installed by landlord Ratkovich Co.
For now, many of the tech and media tenants Mr. Friedrich plans to target have been expanding elsewhere in the city, particularly at Playa Vista, an area just north of the airport where a series of landlords have transformed industrial buildings into hip offices for tech companies.
Carl Muhlstein, a veteran Los Angeles broker at Jones Lang LaSalle who handles leasing for a large development in Playa Vista, said once the adapted, former industrial buildings in Playa Vista fill up, tech companies will need to look elsewhere, and downtown is a likely candidate given the growth of hotels and apartments.
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From what I've read, Playa Vista's office buildings aren't doing very well (yet).
http://labusinessjournal.com/news/2013/j...ding-may-score-video-game-maker/?page=1&
Back in June, LA Business Journal had their current vacancy rate at 58%. Although this was within an article noting that Riot Games and Red Bull were potentially taking 300,000 sq foot and 80,000 sq foot leases respectively.
Anyway, I was happy to see this today:
Source
Figa7th is filling out pretty nicely. Hopefully that bodes well for the Macy's Plaza re-do.
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