Condé Nast moves LA office to Atlas Capital’s ROW DTLA

Condé Nast, the media company that publishes magazines Vogue and The New Yorker, has signed a lease at Atlas Capital and Square Mile Capital’s ROW DTLA office complex in the Arts District. 

The company is moving its L.A. offices to the new space, according to a Wednesday announcement from JLL, which brokered the deal on behalf of the landlord and Condé Nast. 

JLL declined to disclose how much square footage Condé Nast was taking, but a source familiar with the matter said the media company leased around 25,000 square feet. Financial terms of the lease were not disclosed.

Condé Nast, which is headquartered at One World Trade Center in New York City, previously leased the 12th floor, about 20,500 square feet, at 6300 Wilshire Boulevard in Miracle Mile, a 21-story office tower owned by The Swig Company.

ROW DTLA, a 1.3 million-square-foot office and retail campus at 777 South Alameda Street, opened in 2018, but the developers are still working on building out spec office suites for tenants. 

In July, Atlas Capital signed clothing firm Revolve and furniture maker Joybird to a total of 68,000 square feet. Other tenants at ROW include Hyperloop One, a transport technology company formerly known as Virgin Hyperloop; design firm HOK; and GoFundMe. 

About 24 percent of all office space in Downtown L.A. was available for lease in the first quarter of this year, according to JLL, with monthly rents averaging $3.67 per square foot.

Greater L.A. also saw a huge dropoff in leasing in the first quarter. About 2.2 million square feet of office leases were signed from January through March — down 37 percent compared to the last quarter of 2022 and about 40 percent year-over-year, according to a CBRE report.