The typical asking rate per listing is in the $50's per square foot per year. The Hermosa Beach submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Hermosa Beach region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 16 listings have come on the market, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 63% of the listings in the Hermosa Beach 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 980 sqft. Most properties in this region are approximately 3 stories. Most buildings in this region were built in 1988 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Hermosa Beach occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.