On average, listings lease in the $20's per square foot per year. The Downtown Long Beach submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 12% decrease in rent.
In the last 90 days, 7 listings have been listed, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 29% of the available space in the Downtown Long Beach are subleases, so you might be able to find a shorter term or below market rent. 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 3,490 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are around 6 stories. Most buildings in this area were built in 1980 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Downtown Long Beach residents. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.