Los Angeles office hotspots are buzzing with activity
Los Angeles office show more than half of submarkets are seeing more employees in office compared to last year
The Avison Young Busyness Index tracks the number of people in an office building and compares it to a base year to form a busyness percentage. In this case, June 2023 is the base year, allowing us to compare trends over the last year to see the percentage change in return-to-office visitation. As we continue to move away from the Covid-19 pandemic era, office submarkets in Los Angeles are experiencing an influx of employees returning to the workplace as companies begin to implement fewer work-from-home flexibilities.
Four out of our six major submarkets saw an increase in employee visits, with Mid-Wilshire at 17%, the Financial District at 10%, and the San Fernando Valley at 6%. West LA saw a 1% increase, South Bay a 1% drop, and the only major decrease came from Tri-Cities at -8%.
The last six months have shown an increase in visitations within all six markets after a large drop in December, which can be attributed to the holidays causing people to work remotely or take vacation time. As more office-occupying companies implement “in-office” work policies, we can expect to see a gradual increase in office busyness moving forward.
August 22, 2024