On average, listings lease in the $40's per square foot per year. The Grant Park region is seeing a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Grant 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, 6 listings have come on the market, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 17% of the listings 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,260 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 2 floors. Most buildings in this region were built in 1967 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this region. 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.