November 6, 2015
Connect Media caught up with Carl Muhlstein, regional director at JLL, who will be one of the speakers at Connect Westside Los Angeles on Dec. 2. With an emphasis on representing tenants in the entertainment industries, he shared his expert advice about creative-office trends and what tenants are expecting and experiencing.
Is it a challenge for landlords to retrofit space for creative offices?
The older spaces have already been retrofitted in our markets, due to such a demand.
What are the improvements that tenants ask of JLL?
There are changing consumer tastes, and buildings are changing with the times. Around the city, architects are busy. Part of what they are doing is modernizing spaces, so that there are indoor-outdoor areas. They also want to make lobbies more akin to a hospitality environment, and current trends are pushing for renovations of common areas.
Does the creative-office movement have legs, or is it just a trend that will be short lived?
It has legs. Companies are in the workplace to make it more competitive for themselves when it comes to both recruiting and branding. That’s why it is here to stay, and it is a global phenomenon.
What is happening with the entertainment industry? You have many clients in that arena…
The entertainment industry is going through a lot of changes, and entering new businesses. We have had about one million square feet of leases that have taken place in the last year due to content development.
So things are trending in a positive way?
Yes. There is no submarket that can hold all of these companies’ uses at one time. Sony, for example, has production space in Burbank. It has space in Hollywood, music in Beverly Hills, and Sony PlayStation in Playa Vista. There is no one area that can contain them all.