The typical asking rate per listing is in the $40's per square foot per year. The South Lake submarket is experiencing a a boost in rates. In the last 3 months, the median rate increased $50 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the South Lake region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 27 listings have been posted online, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 48% of the office spaces in the South Lake are subleases, so you might be able to snag a great spot on a short term. 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 2,120 sqft. Most buildings in this region are approximately 4 stories. Most buildings in this market were built in 1961 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst South Lake residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.