2022 Q1 Hollywood/Mid-Wilshire Office Research Report
- Hollywood/Mid-Wilshire office occupancy was relatively flat in Q1, fairing better than many other Los Angeles office markets.
- High vacancies in Mid-Wilshire caused the average asking rent in this submarket to fall by 12% year over year.
- Over 64% of the vacant office space in this market is in Mid-Wilshire.
- Hollywood recorded 137,992 SF of leasing activity in Q1, the highest quarterly amount since the start of the pandemic.
- Demand for offices with studio space to make movies and television shows remains strong in Hollywood and its surrounding areas.