No sign of retreat for growing Los Angeles County office market

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Technology and media content companies again led the leasing pack, while law firms also resumed growth after years of shrinking their office footprints.

Architect's rendering of how the former Westside Pavilion shopping center in West Los Angeles will look after a makeover. Google will rent most of the property now known as One Westside for office use.

The Los Angeles County office market has been on the upswing since 2013 and showed no sign of slipping in the first quarter as rents moved up and vacancy declined. Technology and media content companies again led the leasing pack, while law firms also resumed growth after years of shrinking their office footprints, real estate brokerage CBRE said.“The Los Angeles office market is still in growth mode,” said Petra Durnin, the brokerage's director of research for the region.

There is a “space grab” going on among large tech companies and entertainment content providers, she said, driven by two needs: to secure offices to grow into and to make sure no one else gets to use it.Perhaps the biggest example of that trend in the first quarter came in January when

 

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