The typical asking rate per listing is in the $40's per square foot per year. The Grant Park submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $50 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the Grant Park region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 26 listings have come on the market, which means listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 42% of the office spaces in the Grant 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 2,630 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are close to 2 stories. Most buildings in this region 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 residents. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.