The typical asking rate per listing is in the $40's per square foot per year. The Studio City submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $24 per sqft per year. That's a 33% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Studio City region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 52 listings have been listed, so you'll want to check back regularly for new listings. About 2% of the office spaces in the Studio City are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 940 sqft. Most buildings in this region are close to 3 floors. Most buildings in this area were built in 1951 and are Class B.
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 region. Commute by public transit is the most popular way to get to work amongst Studio City 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 Studio City.
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