The typical asking rate per listing is in the $50's per square foot per year. The Southwood region is going through a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Southwood submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 97 listings have been listed, so you'll want to check back regularly for new listings. About 8% of the listings in the Southwood 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,950 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 5 stories. Most buildings in this area were built in 1978 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Southwood occupants. 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 Southwood.
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