Despite the challenges of return to office, the LA region had several high-profile leases signed—new and renewals—from
major players in the technology and entertainment spheres. These include the Hollywood talent firm Creative Arts Agency (400,000 sf), Sony Pictures Animation (225,539 sf), Amazon (207,821 sf), Riot Games (199,882 sf) and Lionsgate (192,584 sf)—all of which took place in LA West. Though these numbers are impressive in themselves, they pale compared to the cadence these sectors were leasing before the pandemic. For instance, since shifting workforces to hybrid schedules and readjusting labor forces, leasing activity from tech-centric firms has totaled 1.4 msf between 2020 and 2023, a decrease of 41.7% compared
to pre-pandemic years.
The entertainment industry is a cornerstone of LA and a significant player in the region’s expansive office footprint. Amid the pandemic, Hollywood was still hard at work in satiating the appetite for quarantined families for streaming content. As such, the entertainment sector recorded a noticeable bump in leasing activity between 2020 and 2023. Creative Arts Agency, one of the most prominent talent representatives in the industry, leased nearly 400,000 sf at 1950 Avenue of the Stars in Century City.