Most listings are in the $30's per square foot per year. The City Center region is seeing a decrease in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the City Center region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 19 listings have been posted online, which means office spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 11% of the available leases in the City Center 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 posted, so finding a space for a small business might be tough.
Even though the median size is 3,480 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are close to 12 stories. Most buildings in this region were built in 1985 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find 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 occupants. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.