The typical asking rate per listing is in the $30's per square foot per year. The Greater Wilshire submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $40 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the Greater Wilshire submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 15 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 127% of the available leases in the Greater Wilshire 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.
The standard measurement for office space in this area is around 1,600 sqft. Most buildings in this market are close to 4 stories. Most buildings in this region were built in 1961 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 area. Commute by walking is the most popular way to get to work amongst Greater Wilshire folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.