On average, listings lease in the $40's per square foot per year. The City Center submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 12% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the City Center submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 19 listings have been listed, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 8,300 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are close to 12 stories. Most buildings in this area were built in 1987 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Wholesale trade is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst City Center occupants. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.