The typical asking rate per listing is in the $30's per square foot per year. The Greater Wilshire submarket is going through a decrease in rates. In the last 3 months, the median rate fell $34 per sqft per year. That's a 52% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Greater Wilshire region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 15 listings have come on the market, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 7% of the available space in the Greater Wilshire are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 250 sqft. Most buildings in this region are close to 5 floors. Most buildings in this region were built in 1959 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Greater Wilshire residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.