{"id":769,"date":"2024-10-17T02:40:39","date_gmt":"2024-10-17T09:40:39","guid":{"rendered":"https:\/\/citystuff.com\/los-angeles\/?p=769"},"modified":"2024-10-17T02:40:39","modified_gmt":"2024-10-17T09:40:39","slug":"wedbush-securities-relocates-headquarters-from-la-to-pasadena","status":"publish","type":"post","link":"https:\/\/citystuff.com\/los-angeles\/wedbush-securities-relocates-headquarters-from-la-to-pasadena\/","title":{"rendered":"Wedbush Securities Relocates Headquarters from LA to Pasadena"},"content":{"rendered":"

Wedbush Securities Relocates Headquarters from LA to Pasadena<\/strong><\/p>\n

Headline:<\/strong> Wedbush Securities is leaving its 100,000-square-foot headquarters in Downtown Los Angeles for a smaller office in Pasadena.<\/p>\n

The Move:<\/strong><\/p>\n

The company is downsizing its office size by 80% to a 20,000-square-foot office on Lake Avenue in Pasadena. The new office is currently used by a firm, where financial terms of the deal remain undisclosed.<\/p>\n

Reasoning:<\/strong><\/p>\n

Wedbush Securities, a locally based stock brokerage, is exiting its prominent office tower as it shifts to remote work. The company’s president, Gary Wedbush, explained that the pandemic has created a different kind of office for the firm. "There are places like Pasadena that seem to have recovered more fully from the pandemic than Downtown Los Angeles has."<\/p>\n

The Impact:<\/strong><\/p>\n

The shift to remote work has decimated the Downtown office market, with an overall vacancy rate of over 30%. "It’s a big deal, a very big decision for the firm," Wedbush told the Los Angeles Times.<\/p>\n

The Future of Downtown LA:<\/strong><\/p>\n

The company’s exit is part of a broader trend in the Downtown office market. "The Greater Los Angeles office market continued its search for the bottom" in the third quarter, according to a recent report by CBRE, as both tenants and landlords navigate the ongoing supply and demand imbalance exacerbated by the shift to hybrid and remote work.<\/p>\n

Conclusion:<\/strong><\/p>\n

Wedbush Securities’ decision to relocate its headquarters from Downtown Los Angeles to Pasadena is a reflection of the changing office landscape. As the company shifts to a remote work model, it is downsizing its office space and looking for a more suitable location. This trend is not unique to Wedbush Securities, as many companies have had to adapt to the new reality of remote work.<\/p>\n

Frequently Asked Questions:<\/strong><\/p>\n

Q:<\/strong> Why is Wedbush Securities relocating its headquarters from Downtown LA to Pasadena?
\nA:<\/strong> The company is shifting to a remote work model and looking for a more suitable location, where it can downsize its office space.<\/p>\n

Q:<\/strong> How much is Wedbush Securities downgrading its office space?
\nA:<\/strong> The company is decreasing its office space by 80%, from 100,000 square feet to 20,000 square feet.<\/p>\n

Q:<\/strong> Why is the Downtown LA office market struggling?
\nA:<\/strong> The shift to remote work has decimated the Downtown office market, with an overall vacancy rate of over 30%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wedbush Securities Relocates Headquarters from LA to Pasadena Headline: Wedbush Securities is leaving its 100,000-square-foot headquarters in Downtown Los Angeles for a smaller office in Pasadena. The Move: The company is downsizing its office size by 80% to a 20,000-square-foot office on Lake Avenue in Pasadena. The new office is currently used by a firm, […]<\/p>\n","protected":false},"author":3,"featured_media":770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-769","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-real-estate"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/static.therealdeal.com\/wp-content\/uploads\/2024\/10\/Wedbush-Securities-Relocates-Headquarters-from-LA-to-Pasadena-f.jpg?w=1920&resize=1920,1344&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/posts\/769"}],"collection":[{"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/comments?post=769"}],"version-history":[{"count":1,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/posts\/769\/revisions"}],"predecessor-version":[{"id":771,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/posts\/769\/revisions\/771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/media\/770"}],"wp:attachment":[{"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/media?parent=769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/categories?post=769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citystuff.com\/los-angeles\/wp-json\/wp\/v2\/tags?post=769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}