Most listings are in the $20's per square foot per year. The Rancho Palos Verdes region is seeing a decline in rates. In the last 3 months, the median rate fell $11 per sqft per year. That's a 29% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Rancho Palos Verdes submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 24 listings have been listed, which means office spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 8% of the listings in the Rancho Palos Verdes 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.
The standard measurement for office space in this area is around 1,200 sqft. Most properties in this area are around 2 floors. Most buildings in this region were built in 1985 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Rancho Palos Verdes occupants. Commuting approximately 30 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 Rancho Palos Verdes.
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