The second largest city in the United States and one of the most populated is none other than Los Angeles. The largest city in the state of California, and one of the most prominent tourist attractions, has an estimated population of around 3.8 million in the city center, and upwards of 12.8 million in the metropolitan area. The city is notable for its close proximity to Hollywood, Beverly Hills, and many other notable areas like West LA, Venice, Silverlake, Woodland Hills, Sherman Oak, Encino, and Melrose area. We also service Orange County, San Diego, and San Jose if you need to find an office suite in those areas.
The economy of Los Angeles hinges on a wide variety of industries. Some of the biggest industries in the area include, television, motion pictures, games, recorded music, fashion, technology and tourism. The city has a large amount of financial centers as well. There are many different vocations represented in the greater Los Angeles area, with many opportunities for both experienced workers and those looking to start their career. Some of the big companies in the area include, 20th Century Fox, Premier America, The Jim Henson Company, Korean Air, 21st Century Insurance, Tokyo pop, Hastings, and many others. Despite a rich job pool and opportunities abounding in all major sectors, the area has an unemployment rate of around 12%.
The city of Los Angeles has a rich diverse area population, full of warehouse, retail, Los Angeles office suites and commercial developments. The downtown and East Los Angeles area specifically has been going through some major changes, including a large portion of funds dedicated to gentrification. Those looking to house, grow, or develop a business in the area will find that there are great opportunities to grow. The office suites vacancy rate of Los Angeles hovers between 5 and 7% and is highly competitive. Despite the low rates, the prices are relatively stable and mirror many lower cost options around the nation. In a recent survey of options, we were able to find space available from $1 a square foot and under for 1,000 square feet of both retail and office space. There are a great number of opportunities to explore in the greater Los Angeles area for business levels of all standards. To discover more about the Los Angeles California area and the current commercial real estate market, check out our office suites articles.
The area is also flooded with great opportunities to advance in terms of education. There are many colleges that call the area home and include some notable names. Some of the colleges in the greater Los Angeles area include, Occidental College, Loyola Marymount University, California State University, Mount ST Mary College, Musicians Institute, UCLA, and USC and many more.
The local Airport is Los Angeles International Airport and is commonly referred to as LAX. It is one of the biggest international airports in the United States and helps 59 million passengers travel around the world. The airport connects several international areas with direct flights to most of the world. It is currently ranked 7th busiest airport in the world.
Los Angeles has a relatively high crime rate, in certain areas. The gang violence has dropped since the rise in the late 80’s and early 90’s, and has somewhat calmed in terms of violent crime. However, there are still pockets of the general greater Los Angeles area that are rough. The local law enforcement agencies have been pushing back heavily looking to calm the storm and have actually won many small skirmishes in the rising battle for Los Angeles.