The typical asking rate per listing is in the $30's per square foot per year. The Central San Pedro submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $21 per sqft per year. That's a 35% decrease in rent.
In the last 90 days, 22 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 5% of the available leases in the Central San Pedro are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,310 sqft. Most buildings in this area are approximately 3 floors. Most buildings in this area were built in 1965 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Central San Pedro residents. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.