The typical asking rate per listing is in the $40's per square foot per year. The City Center submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 6% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the City Center submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
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. About 147% of the office spaces in the City Center are subleases, so you might be able to snag a great spot on a short term. 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 2,880 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 12 floors. 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 region. Commute by bike is the most popular way to get to work amongst City Center occupants. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.