The typical asking rate per listing is in the $30's per square foot per year. The Gallery Row submarket is going through a an increase in rates. In the last 3 months, the median rate increased $39 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the Gallery Row submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 2 listings have come on the market, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the listings in the Gallery Row 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 2,740 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are around 12 floors. Most buildings in this market were built in 1923 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 area. 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.