The typical asking rate per listing is in the $40's per square foot per year. The South Park submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $48 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the South Park region has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 34 listings have been made available, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 74% of the office spaces in the South Park are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 3,930 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are around 4 stories. Most buildings in this area were built in 1933 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Professional services is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst South Park folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.