The typical asking rate per listing is in the $10's per square foot per year. The Westlake North submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $16 per sqft per year. That's a 50% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Westlake North submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 39 listings have come on the market, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 5% of the available space in the Westlake North are subleases, so you will probably have to focus your search on direct office leases. 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 9,100 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are approximately 3 floors. Most buildings in this area were built in 1967 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Westlake North residents. Commuting around an hour and a half 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 Westlake North.
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