On average, listings lease in the $40's per square foot per year. The North Business Park submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 5% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the North Business Park submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 11 listings have been listed, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 45% of the available space in the North Business Park 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,470 sqft. Most properties in this region are around 2 floors. Most buildings in this market were built in 1984 and are Class B.
This region is fairly equally mixed residential and commercial. Manufacturing is the dominant industry in this market. Commute by car is the most popular way to get to work amongst North Business Park folk. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.