The typical asking rate per listing is in the $10's per square foot per year. The Wilshire Center - Koreatown region is seeing a decrease in rates. In the last 3 months, the median rate decreased $14 per sqft per year. That's a 47% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Wilshire Center - Koreatown region has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 467 listings have been made available, so you'll want to check back regularly for new listings. About 1% of the available space in the Wilshire Center - Koreatown are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,450 sqft. Most properties in this market are close to 12 floors. Most buildings in this area were built in 1960 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by motorcycle is the most popular way to get to work amongst Wilshire Center - Koreatown folk. Commuting approximately an hour 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 Wilshire Center - Koreatown.
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