Los Angeles office hotspots are buzzing with activity
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