California is a global economic powerhouse, recently becoming the 6th-largest economy in the world ahead of France and Brazil and just behind the United Kingdom. It is also the home of 5 of the top 30 leading technology Markets in North America, according to CBRE research. Its growth, however, is not exclusively a story of its technology-heavy northern territory. Research has shown that Los Angeles County employers, for example, have created more jobs in the past year than those in San Francisco and Silicon Valley combined. Like other strong-growth Markets, the area is known for its deep labor pool, substantial university system and very strong overall demographics. Its leading advantage, however, remains its amazing quality of life which continues to attract top talent and industry from across the globe. As a result, California remains a choice target for domestic and international investors and pricing reflects these strained supply-and-demand dynamics.
Having led Arden Realty Inc.—a former Real Estate Investment Trust based in Los Angeles—and later, Arden Realty as a division of GE Capital Real Estate, the MEQ Executive team has developed unparalleled Market knowledge and critical long-term relationships that have allowed them to continue to seize unique investment opportunities within this extremely competitive environment. MEQ has primarily focused on Southern California, specifically the West Side of Los Angeles. Along with media, tech demand in Greater Los Angeles remains heavily concentrated in West Los Angeles. Some Bay Area tech giants have even built a sizable presence in the West Los Angeles Market including MEQ tech tenant, Uber. We believe that the increased tech talent graduating from Los Angeles universities will also continue to drive the growth of tech tenants within the Los Angeles Market.
The continued tech demand, as well as the strong attraction of highly-valued workers towards Urbanized sub-Markets such as Santa Monica play directly into MEQ’s strategy, which is currently focused on West Side Creative Office and Mixed-Use development.