Only 2 Buildings Being Built in Downtown Area

Only two major office buildings are under construction in downtown Los Angeles, according to a Cushman & Wakefield report.

The new buildings are the 626,000-square-foot Transpacific Tower and the 242,000-square-foot Home Savings of America Tower.

“The figures also show few, if any, new office structures being built this year in mid-Wilshire and Pasadena,” said Gerald L. Eggleston, vice president.

New construction in the San Fernando Valley will add another 2 million square feet. The Los Angeles Westside section with an office inventory of 47 million square feet, will grow by 4.8 million square feet before the end of the year.