Compared to the rest of the Metropolitan Los Angeles market, the Miracle Mile submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 12 listings have been listed, which means office spaces most likley are 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 3,670 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are approximately 10 floors. Most buildings in this region were built in 1971 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Miracle Mile residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.