Netflix, Amazon Fuel L.A. Office Demand as Streaming Flourishes
The surge in online television viewing is spurring a wave of big real estate deals, as companies such as Netflix, Amazon.com Inc. and Google snap up space to cope with increased production demands. The amount of office space the entertainment industry occupies in Los Angeles County has climbed to the most this decade, with media tenants in 25.5 million square feet, up 2.99 million square feet from five years earlier, according to brokerage CBRE Group Inc. The space the streaming companies lease has evolved from the small offices of a few years ago to the giant production facilities typically associated with traditional Hollywood studios.
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