On Location Signs DTLA’s Largest New Office Lease Since 2024

Why It Matters

The lease signals heightened demand for premium, centrally located office space as Los Angeles gears up for the 2028 Games, reinforcing confidence in the DTLA commercial‑real‑estate market.

Key Takeaways

• 108,272 sq ft lease spans six floors at 445 S Figueroa.
• On Location LA establishes headquarters for 2028 Olympic hospitality work.
• Deal is DTLA’s largest new office lease since Q4 2024.
• CBRE’s involvement highlights strong landlord‑tenant alignment in Class‑A market.

Pulse Analysis

Los Angeles’ commercial‑real‑estate landscape is entering a pivotal phase as the city prepares for the 2028 Olympic and Paralympic Games. Developers and investors are increasingly targeting Class‑A assets in the downtown core, where proximity to venues, transportation hubs, and cultural amenities offers tenants a competitive edge. On Location LA’s 108,272‑square‑foot commitment underscores this trend, positioning the firm to deliver ticketing, event production, and travel services for a wave of global sporting and entertainment events that will flow through the region.

The lease, brokered by CBRE, marks the biggest new office transaction in DTLA since the fourth quarter of 2024, a metric that analysts use to gauge market momentum. By securing six floors in a well‑capitalized building, On Location not only gains a flagship headquarters but also signals confidence in the city’s long‑term economic outlook. CBRE’s role highlights the importance of experienced intermediaries who can align landlord capital with tenant growth strategies, especially in a market where vacancy rates have tightened and rent premiums for premium locations are rising.

For investors, the transaction offers a glimpse into where capital is likely to flow in the coming years. The Olympics will catalyze demand for hospitality‑focused office space, prompting other experiential brands and event‑service providers to consider similar moves. This could spur a cascade of high‑profile leases, boosting property values and reinforcing Los Angeles’ status as a premier destination for large‑scale events. Stakeholders should monitor lease pipelines, tenant mix, and financing structures as the city’s CRE ecosystem adapts to the upcoming global spotlight.