On average, listings lease in the $40's per square foot per year. The Grant Park submarket is going through a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Grant Park region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 26 listings have been made available, which means listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 4% of the office spaces in the Grant Park are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,630 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are close to 4 floors. Most buildings in this area were built in 1967 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this market. Commute by car is the most popular way to get to work amongst Grant Park occupants. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.