ByteDance Leases 143K SF of Office Space in Culver City, CA

TikTok's parent company, ByteDance, is growing its presence in Culver City, California. The company has leased 143,000 square feet of office space in two separate deals.

The expansion: ByteDance has expanded its existing office space at C3 at Culver Pointe by 53,202 square feet. It has also subleased 90,000 square feet of office space at 900 Corporate Pointe.

A major deal: ByteDance's new lease at Corporate Pointe is one of the largest new leases in Culver City in the third quarter of 2023. The company's expansion is a sign of growth and confidence in the Culver City market.

The bad news: Nevertheless, the overall office leasing market in Los Angeles is still below its five-year average. This is due in part to the fact that many companies are downsizing or rightsizing their office space as they re-evaluate their long-term needs.