On average, listings lease in the $30's per square foot per year. The City Center submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the City Center submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 19 listings have been posted online, which means new availabilities are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 11% of the listings in the City Center are subleases, so you might be able to sign a shorter term by taking over a previous 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.
Even though the median size is 3,480 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are close to 12 floors. Most buildings in this market were built in 1985 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst City Center folk. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.