PwC’s Move to Century City Is Another Blow to Downtown L.A.

PricewaterhouseCoopers is abandoning Downtown Los Angeles. The accounting firm will leave its current offices when its lease expires in 2028 and relocate to Century City, marking another major tenant exodus from the region's struggling core.

The move reflects a broader "flight-to-quality" pattern reshaping Los Angeles' commercial real estate landscape. While the broader L.A. office market shows recovery signals, Downtown continues hemorrhaging tenants to newer, better-maintained facilities in West Los Angeles submarkets like Century City.

PwC's departure carries outsized symbolic weight. The firm occupies significant square footage in Downtown, and its exit removes a major credit tenant from the market at a time when the district already battles high vacancy, aging infrastructure, and persistent questions about safety and vibrancy. Other corporate anchors have already bolted for Westside locations, creating a compounding problem for Downtown landlords trying to stabilize rents and attract fresh investment.

For Downtown L.A. property owners, this news signals continued pressure on asset values and lease rates. Landlords will compete harder for remaining tenants and may need to offer aggressive concessions to fill vacant space. The departure also complicates Downtown's broader revitalization efforts, which depend on professional services firms and corporate headquarters to generate daytime foot traffic and lease demand.

Century City, conversely, benefits from PwC's decision. The submarket offers modern Class A office towers, proximity to entertainment industry tenants, and amenities that appeal to top talent. Landlords there can command premium rents from quality-conscious companies fleeing older downtown core.

The 2028 timeline gives Downtown stakeholders four years to respond. Developers and property managers must address root causes driving exits. Aging buildings require modernization. Street-level experiences need improvement. Security concerns demand attention. Without intervention, Downtown's office market will continue bleeding ten