Tech is quickly spreading profusely over Los Angeles. Northern California is no longer the only place where up and coming tech, web, and new media companies are calling home. The L.A. Times recently published an article detailing companies and new tech start-ups who have made chosen “Silicon Beach” over “Silicon Valley.”
Some start-ups are also searching for suites in Los Angeles that are flexible and easy to remodel to fit their needs as a company. One major tenant broker reported a flurry of requirements for companies that produce video content for the web. PMI has received interest from a few companies that require building several of these web video studios. PMI is trying to figure out how to best accommodate these needs by making the restoration of the space less expensive. The companies who are requesting restoration believe that the renovated studio will have additional value for the next company who will occupy it. However, in the event that the next company does not prefer the modifications previously made– maybe they are involved with a different type of business– the company will want the web video studio layout removed. Adding to the complexity of the situation, these companies also have different studio requirements; there isn’t an adequate generic standard these studios can be crafted by.
PMI is working to accomdate all of their tenant’s requests, and are happy to welcome new and creative companies at their properties. With the creation of Silicon Beach, we expect the creative office space demand to rise even further.