Research from JLL revealed that coworking firms have taken up the largest leases in Los Angeles in the first quarter of 2019, totaling 600,873 square feet. WeWork alone took up 319,000 square feet in the Greater Los Angeles area.
“Coworking operators have taken up very traditional space and converted it into creative space,” said Mike McRoskey, managing director at JLL. “Coworking is really catering to the tech, media and entertainment companies and other companies that need more flexible space options.”
While coworking is clearly growing in Downtown Los Angeles, the office market may not see the same impact as the Westside simply due to more availability of space. Still, demand for coworking spaces has grown thanks to the big industries in the city.