Hollywood’s history is long and fascinating, and here at Suzanne Dranow we can’t get enough of the historical significance of many structures in the city. Properties are often recognizable and well-regarded, and even those that don’t stand out immediately often hide their own unique stories.
Recently, many older Hollywood buildings have been getting makeovers as new occupants take over thanks to more creative, unique buyers. In the past, large buildings were usually snapped up by traditional businesses like insurance or finance offices. But now, things are getting a little more interesting thanks in large part to tech-based organizations and other creative companies.
Hollywood and Los Angeles in general already has a huge number of office buildings and industrial spaces that date back to the 1900s all the way through the 80s. The CBRE recently estimated that the LA County office space market was at 200 million square feet. About 38 percent of that – 76 million square feet – is taken up by technology and creative organizations.
What are we talking about when we say ‘creative’? Companies like Docler Media, Mashable, animation studio Animal Logic, and even film production specialists have all been snapping up properties that would once have been taken by a long term office space lease. The appeal is obvious – these properties have large expanses of space combined with unique histories and interesting amenities. From laundry spaces and space for huge servers to decorative amenities like exposed beams, these properties often fit what new, young companies need.
What does all this mean, exactly? Essentially it’s just another sign that the face of the LA real estate market is changing in a big way. From residential luxury homes to these unique commercial properties, there’s a lot to be excited about in the city and we can’t wait to see more about how things are going to head in the future.