Tenants like Netflix Inc., Google and Amazon.com Inc. have recently made substantive incursions into the Los Angeles area, taking hundreds of thousands of square feet in office space in markets such as Hollywood, West L.A. and Culver City.
These giants, which are taking large leases in high-demand areas, are able to get concessions from landlords that many other tenants are not able to negotiate for. Increased budgets for specific modifications to work areas – referred to as tenant improvement allowances – can be particularly high for desirable tenants signing long-term leases for large blocks of space.
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