On average, listings lease in the $40's per square foot per year. The City Center region is experiencing a a rise in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 12% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the City Center submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 19 listings have been posted online, which means leases most likley are going fast. You'll want to be prepared to make an offer immediately. 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 8,300 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 12 floors. Most buildings in this market were built in 1987 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Wholesale trade is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst City Center residents. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.