On average, listings lease in the $50's per square foot per year. The Mid-City West submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 1% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Mid-City West submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 581 listings have come on the market, so you'll want to check back regularly for new listings. About 7% of the office spaces in the Mid-City West are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,200 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 2 floors. Most buildings in this area were built in 1961 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Mid-City West folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Mid-City West.
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