Most listings are in the $60's per square foot per year. The Lucerne-Higuera submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $28 per sqft per year. That's a 85% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Lucerne-Higuera submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 2 listings have been listed, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 50% of the available space in the Lucerne-Higuera 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 20,480 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 1 floors. Most buildings in this area were built in 1977 and are Class B.
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 public transit is the most popular way to get to work amongst Lucerne-Higuera folk. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.