Most listings are in the $30's per square foot per year. The Gallery Row submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Gallery Row submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 2 listings have been made available, which means new listings might be 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.
The standard measurement for office space in this area is around 2,220 sqft. Most properties in this region are around 12 floors. Most buildings in this region were built in 1924 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Gallery Row occupants. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.