DTLA Market Report: Year-End 2023
Downtown Los Angeles ended 2023?showing solid recovery in the residential, hospitality and retail sectors. Residential deliveries have picked up their pace after pausing during the pandemic. The latest is?Figueroa Eight, a 42-story, 438 unit tower developed by Mitsui Fudosan, raising the total new deliveries for 2023 to over 1,800 units. In hospitality, Sonder, previously known primarily for home sharing, opened?The Craftsman?and?The Winfield?in two adaptive reuse historic buildings. Despite ongoing challenges, the office sector ended on a high note with?Sheppard Mullin’s?119k SF lease at City National 2Cal. Finally, DTLA added 37 new food & beverage establishments in 2023, bringing the total since the pandemic to over 100 new bars and restaurants.
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Thrilled to see DTLA's vibrant comeback! ??As Helen Keller once said, "Optimism is the faith that leads to achievement." Your comprehensive report showcases the powerful rejuvenation in the heart of LA. ?? #Resilience #GrowthTogether