The typical asking rate per listing is in the $30's per square foot per year. The South Park region is going through a an increase in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 7% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the South Park submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 29 listings have been listed, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 3% of the available space in the South Park are subleases, so you will probably have to consider a longer term lease. 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 2,010 sqft. Most buildings in this area are around 4 stories. Most buildings in this market were built in 1946 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find 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 occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.