PwC to Relocate Los Angeles Offices from Downtown to Century City in 2028

PricewaterhouseCoopers will relocate its Los Angeles offices from downtown to Century City when its lease at 601 S. Figueroa Street expires in 2028. The company signed a 15-year lease for 150,000 square feet at 2121 Avenue of the Stars valued at about $200 million. The new space is larger than its current 114,000-square-foot downtown office.

Background on the Move PwC has maintained a downtown presence since the late 1990s and leased its current space in 2013. Office Managing Partner Andy Sofield said the relocation supports growth and provides better access to clients, employees, and transportation. The firm previously had an office in Century City more than two decades ago. Employees were notified of the transition on Monday.

Downtown office vacancy has risen from 14% in 2019 to 34%, with nearly 40% of financial district space available at the end of last year. Several large tenants have already reduced or relocated their downtown offices. Century City office buildings are more than 90% leased at the city's highest rents.

Real estate broker Gary Weiss said multiple companies have moved from downtown to Century City in recent years. Nick Griffin of the DTLA Alliance said city officials should do more to retain major tenants downtown. He noted that a single departure does not offset broader trends including increased residential population and tourism activity.