office space Brentwood

Your Brentwood office space guide by Search Office Space

Brentwood Office Space

Squeezed in between the Pacific Coast, Beverly Hills, and Santa Monica lays the upscale community of Brentwood. This municipality of 50,000 is a neighborhood within the city limits of Los Angeles. The area is densely populated, 2,700 people per square mile, and continues to draw in celebrity homeowners. The most famous residence in Brentwood is Hugh Hefner's Playboy Mansion. Other notable residents include Governor Arnold Schwarzenegger and, until her untimely death, Marilyn Monroe.

Getting into or out of Brentwood is not easy. There is only marginal bus service so the predominant method of traveling is by freeway. The major highway to get to other areas is the San Diego Freeway or 405 that is located just east of the city. The nearest airports to travel out of the city are the Los Angeles International Airport (LAX) and the Burbank Airport (BUR). LAX is twelve miles away and can be reached in a little more than twenty minutes.

The lowest rates for commercial space are found in either shared offices or executive suites. Brentwood shared offices are a form of subleasing that allows the area to be shared or rented on a short term basis. Executive suites in Brentwood are leased and come with an array of services.

The Los Angeles office space market is soft and some areas have seen their vacancy rates soar to as high as 30%. The Brentwood area has fared much better but still has a 14% rate. This community remains as one of the area's most expensive markets but, even so, the vacancy rates continue to rise. In this market, good deals can be found on leases. In 2007 rents for workstations had reached the $600 to $900 range but, since then, rents have plummeted. Currently, the rate for the same space is between $330 and $750. From the beginning of the year, rents have dropped 5.3%. New construction of office space is negligible for the Brentwood area. Only 15 new buildings are under construction in the entire Los Angeles area so investors are waiting until the market bounces back.

Westside office landlords are reducing their rates as opposed to offering incentives. They are offering lower short term leases so when the market does return, they will be in a position to seek the full price. Brentwood remains a premier area for commercial office space with space available at lower rates.

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