Condé Nast Moving LA Offices Downtown
Mass media giant is relocating into approximately 25,000 square feet, sources say
By Greg Cornfield April 19, 2023 3:05 pm
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The company behind media brands like Vogue, The New Yorker and GQ is moving its Los Angeles office downtown.
Condé Nast is relocating from Mid-Wilshire to the edge of the Arts District at the ROW DTLA mixed-use campus owned by Atlas Capital. The lease is for approximately 25,000 square feet, sources told Commercial Observer. Condé Nast will join apparel and fashion-focused tenants at ROW that include Revolve, Adidas and Shein.
JLL (JLL) announced the lease and represented both the tenant and the landlord, but declined to share the size of the lease or the financials of the deal.
The deal comes as demand for traditional office space deflates throughout the L.A. market. The first quarter ended with 24.1 percent vacancy and a historic high level of sublease space on the office market, according to JLL’s most recent L.A. market report.
ROW includes 1.4 million square feet, and it has secured more than 300,000 square feet of office leases since January 2022, including Virgin Hyperloop’s nearly 50,000 square feet, HOK Group’s 25,000 square feet and Joybird’s 20,000 square feet, among others.
The 32-acre urban enclave is also home to Pizzeria Bianco, Hayato, Go Get Em Tiger and Kato and features a tenant-only athletic club and a rooftop cinema club.
“Companies today are primarily looking for office environments with dining options, amenities and well-activated spaces that enhance its overall culture as they look to bring employees back to the office,” JLL’s Jaclyn Ward said in a statement. “The vibrancy of the district’s amenities and co-tenancies, the multitude of outdoor and event spaces and ample parking, the safety of officing in a city within a city, and the opportunity to mitigate upfront capital with our prebuilt spaces are all resounding themes from each new tenant we’ve attracted.”
Ward oversees office leasing at ROW DTLA along with JLL’s Cassie Trosclair and Sarah Hancock. Brian Niehaus and Lalo Diaz of JLL represented Condé Nast in the lease.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
