The development happening in LA is not just occurring in DTLA. West LA is also seeing its share of new projects.
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Mixed-use projects are sprouting up, as are office projects.
Artisan Realty Advisors Managing Partner Mark Laderman said tenants are demanding a highly amenitized workplace that promotes collaboration and innovation among its employees.
"In the future we expect to see landlords take a more concierge-type approach to their properties by providing services designed to make the lives of customers more productive and efficient," he said.
The Dinerstein Cos. West Coast partner Josh Vasbinder said there are some hindrances to residential development, including that it can be time-consuming.
He said it took his company 10 years to get a building permit for Millennium Santa Monica.
"That, coupled with limited opportunities [and] rising construction costs make development expensive and time-consuming and difficult and not delivering the amount of residential opportunities be it for rent or for sale that are needed in the marketplace," Vasbinder said.
Find out more from the experts at the Bisnow Westside LA Expansion and Investment Trends on Sept. 29 at 777 Aviation.
