July 15, 2025 #1 Local News, Information and Event Source for the Century City/Westwood areas.

How is the Westside Commercial Real Estate Market Recovering?

By Dolores Quintana

The commercial real estate market in Los Angeles is still trying to recover from over two years of pandemic woes. While some areas have shown promise, other areas can’t seem to break out of the market’s decline, as reported by The Hollywood Reporter

Jodie Poirier, executive managing director at Colliers’ said, as quoted by The Hollywood Reporter, “It’s somewhat of a tale of two cities, depending on which market we’re talking about,” says 

Bill Bloodgood, executive managing director at Newmark, said as quoted by The Hollywood Reporter,  “It is bouncing back much faster in the markets that we consider the primary tech- and entertainment-driven markets.” 

This means that areas like the newly popular entertainment and tech hubs on the Westside are doing very well. Area like Culver City, West Los Angeles, theSouth Bay and the Arts District have an advantage. 

It is thought that Los Angeles’ strict Covid regulations might be affecting the recovery of commercial real estate that has 25 percent of available office spaces still vacant, according to Colliers’ report for the first quarter of 2022. Employees have started coming back into offices, but still aren’t back full time which does mean that less office floor space is needed. 

Bloodgood says, as quoted by The Hollywood Reporter, “We are seeing companies do more with less space.”

One positive effect of the pandemic is that employers have felt it necessary to make offices more comfortable and inviting to employees, which is a trend that had already started before COVID, but the trend of employees preferring to work from home during the pandemic and beyond has forced employers to step up their efforts to entice employees back to the office. 

Employers and companies are now opting for offices that have more natural light, high ceilings, open spaces filled with plants and employee amenities. Another premium has been placed on making it easier for employees to enter and exit buildings rather than prioritizing security measures to get in and out of an office. 

Water’s Edge in Playa Vista is a good example of this trend, Nike took over one of the buildings that has an Olympic-sized pool. 

Jeff Pion, vice chairman at CBRE said, as quoted by The Hollywood Reporter, “I think that more and more companies want to use their office space as a competitive advantage in hiring and creating a culture and an environment where their employees want to come back to the office,” 

Ward acknowledges that employers will need to be more competitive. She said, as quoted by The Hollywood Reporter, “We’ve got the great resignation on our hands. We have a very tight labor market and we’ve got these changing workplace dynamics. Big companies are all fighting for a lot of the same talent.”

Related Posts

Beverly Hills Plans Major Apartment Development Near Civic Center

July 15, 2025

July 15, 2025

The site, currently holding 13 residential units, is slated for demolition to make way for the new development A proposal...

Federal Judge Sides with Santa Monica, Other Local Governments Against Immigration Raids

July 15, 2025

July 15, 2025

Santa Monica Mayor Lana Negrete praised the ruling, saying it reaffirmed the city’s commitment to protecting residents from unjust detention...

California Hits Two-Thirds Clean Energy Milestone

July 15, 2025

July 15, 2025

This year, clean energy has powered the state for an average of seven hours daily, with over 90% of days...

Miami Developer Seeks to Convert Century City Apartment Tower into Condos: REPORT

July 14, 2025

July 14, 2025

If approved, the property at 10000 Santa Monica Blvd., known as Ten Thousand and built in 2017, would mark the...

Santa Monica Assault Suspect Faces Multiple Charges, Authorities Seek Additional Victims

July 14, 2025

July 14, 2025

Marbra allegedly assaulted a 52-year-old woman on the Strand in Santa Monica, facing a felony count of assault with intent...

Veterans Tech Group to Launch Los Angeles Chapter with Networking Event

July 14, 2025

July 14, 2025

Founded in San Francisco, VetsInTech operates 20 chapters nationwide and claims more than 60,000 veterans VetsInTech, a national nonprofit that...

Elvis’ TV Legacy in Beverly Hills to be Explored in Upcoming Event

July 13, 2025

July 13, 2025

The session will feature rare clips from the Paley Archive, including Presley’s debut TV appearance, his 1968 Comeback Special, performances...

Holmby Hills Parcel Once Owned by Pioneering Film Director Lists for $25.5M

July 13, 2025

July 13, 2025

The lot is situated across from the Playboy Mansion and just moments from The Spelling Manor A 1.66-acre parcel of...

County Health Leaders Decry Federal Policy Barring Undocumented from Programs

July 12, 2025

July 12, 2025

The officials argued the policy jeopardizes care for all residents, noting it could deter people—regardless of status—from seeking treatment  Leaders...

County Supervisors Move to Preserve Measure J Amid Charter Error

July 12, 2025

July 12, 2025

Measure J mandates that at least 10% of the county’s locally generated, unrestricted funds be allocated to community investments like...

Sen. Ben Allen Highlights Challenges, Economic Gains for LA28 Olympics

July 12, 2025

July 12, 2025

The remarks came during the first informational hearing of the Senate’s Special Committee on International Sporting Events State Sen. Ben...

Mayor Bass Issues Directive to Protect Immigrant Communities

July 12, 2025

July 12, 2025

The order expands access to city resources for affected families and requests records from ICE, including details on arrests Mayor...

Billy Wilder Theater to Screen Housing Struggle Short Films with Q&A

July 11, 2025

July 11, 2025

The program includes works by community organizers and filmmakers addressing housing struggles from LA to D.C. A free film screening...

(Video) Summer Camp at School of Rock West LA Turns Kids Into Rockstars

July 11, 2025

July 11, 2025

To Sign Up Now, Go To Schoolofrock.com Summer Camp at School of Rock West LA Turns Kids Into Rockstars To...

Chinese Bakery Hi Bake to Open First U.S. Store in Beverly Hills: REPORT

July 11, 2025

July 11, 2025

Hi Bake will offer a fusion of French and Asian pastries, including croissants filled with molten chocolate or wagyu beef...