At the recent Los Angeles Silicon Beach Real Estate Summit, presented by Bisnow, a panel of commercial real estate professionals discussed the driving factors luring start-up technology and media companies to coastal towns. This area, which is increasingly being referred to as “Silicon Beach,” includes Playa Vista, Marina Del Rey, El Segundo and Santa Monica,
The panel included:
After companies such as Google, Facebook and YouTube took space in Silicon Beach, smaller companies flocked to the area to get their share of this new market. These start-ups consist of a younger generation and they have a whole new outlook on “the office.” Some of the items on their wish list when leasing space include:
Law firms and accounting firms are learning from tech companies, saying “good things can come from talking to each other.”
So, what’s next? The panelists forecast that downtown Los Angeles will be the next big hub for tech and media companies, largely due to the fact that the football stadium is being built at LA Live and that you can walk almost anywhere downtown.
As the coastal towns continue to flourish, the real estate market appears to have a bright future and lots of opportunities.
-By Berbay Account Manager Erica Hess