Published on Thursday, May 7, 2026
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Since 2019, signings in LA have climbed to 17.2 million square feet.
Los Angeles' 2026 office leasing cycle reflects a steady, multi-year recovery. Since 2019, new leasing has climbed to 17.2 million square feet year-to-date in 2026, with momentum accelerating after 2023 as tenants recommitted to in-person collaboration and revenue-driven engagement, according to Avison Young.
While Austin leads at roughly 19.5 million square feet, Los Angeles has significantly closed the gap, overtaking Dallas at about 16 million square feet and maintaining a sizable scale advantage over Nashville's 8.6 million square feet, as the Music City only has a third of LA's inventory.
Even with several headline relocations, large occupiers continue to maintain or establish an LA footprint, underscoring the region's importance for client access, business development and West Coast market coverage. This sustained presence from major tenants—paired with broad-based re-engagement across industries—has reinforced the city's role as a strategic hub and helped drive renewed leasing velocity in the current cycle.
"While much of the narrative has centered on companies leaving Los Angeles, the leasing data points to a more important shift in how demand is taking shape," Shane Halpern, market intelligence analyst at Avison Young, told GlobeSt.com.
"The LA market remains highly competitive with growth markets like Austin and Dallas, particularly in new leasing activity. That demand is becoming more concentrated in top-dollar submarkets, including Beverly Hills, Brentwood, and Century City, where tenants are willing to pay a premium for quality and location.
Halpern said this late-cycle acceleration suggests Los Angeles is not losing relevance; it is recalibrating, with future growth likely driven by top-tier assets that align with evolving tenant priorities.