Alice (1990)
Office space for rent in LA
In the late 1990’s, downtown Los Angeles was a blighted place. The city was an eyesore with half empty industrial buildings and offices that were on the verge of collapse. The corporate downsizing that took place at that time led to massive relocation, with the result that nobody liked to stay on in LA, particularly after dark.
Thanks to the infusion of a whopping $17 billion in private investment, the city’s prospects have changed dramatically. Since the early 2000’s, downtown Los Angeles is a happening place, a place where people like to live and play! In the ensuing 5-8 years, residential units have gone up from a mere 3,200 units to an amazing 12,000+ units, with more units being built at a frenetic pace. In fact, Los Angeles is becoming so prominent that it has the potential to rival many other cities within the US.
The main reason for this amazing growth is the development of a large number of hotels, condos, theatres, sports centers, retails, restaurants, clubs and offices. The emergence of huge new projects in the next 2-3 years has ensured that downtown LA continues its fast development.
Given the pace at which downtown LA is developing and the fact that the place has a 50,000+ daytime population, it is only natural that many business crave office space in downtown LA. According to a Grubb & Ellis report published in 2007, approximately 340,000 sq. ft. of Class A office space was taken up by offices in downtown LA in just the third quarter of 2007.
Unfortunately, prosperity has also ushered in an era of increased rents. In 2007, office spaces for rent in downtown LA had registered a 78% hike. Due to the rising rates in office rentals, some companies are being forced to keep a few of their top executives at an exclusive address in LA, while moving out the rest of their staff to more affordable locations.
If your business wants to take advantage of the appeal and popularity of downtown Los Angeles, but you do not want to pay the exorbitant downtown Los Angeles office rental, taking executive suites in Los Angeles could be your only option. Many businesses and clients are attracted to the entertainment appeal of LA. Its transits and freeways make it highly popular with employees and clients too. So, there is no doubt that an office address in downtown LA works in the favor of your business.
Executive offices are a sure way to save money on downtown Los Angeles office rental because these are cost effective, complete office solutions. You get a readymade office with furniture, sufficient office space and added services like internet and telecommunication at a fraction of the cost. You can also avail of facilities like conference halls, kitchens and reception centers. It is important to remember that facilities such as these are actually used quite rarely, but when you take an office on rent, you have to pay for all these facilities according to the terms of your agreement, whether you make use of these facilities or not.
Executive suites provide a turnkey office solution that automatically eliminates large overheads, lack of space and other issues that usually crop up when a new office is set up. Such an innovative technique helps accommodate a wide variety of professionals and offices, whether they are business owners or corporate executives. Visit us at http://www.regentbc.com
About the Author
Regent Business Centers is the leading provider of executive office furniture and office suites. Find Los Angeles office rent at best prices.
Siskel & Ebert – Alice (1990)