Leasing activity slows some, but year-to-date totals remain strong

In Q3 2025, 3.5 million square feet (msf) were leased across the Los Angeles market, a slight downtick from the prior quarter. Still, this brought the year-to-date total to 10.5 msf, the strongest since before the pandemic. Large leases were limited, with Kaiser Permanente’s 280,147-square-foot (sf) renewal in Pasadena (74 North Pasadena Avenue and 75 North Fair Oaks Avenue) standing out as the largest. While most top leases were renewals, relocations and expansions also occurred, including KPMG’s 69,455-sf relocation in Downtown Los Angeles (633 West 5th Street), Canvas Worldwide’s 68,331-sf new lease in El Segundo, doubling its market presence, and Varda Space’s 54,749-sf sublease of former Beyond Meat space in El Segundo (888 N Douglas Street).

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