Compared to the rest of the Metropolitan Los Angeles market, the Miracle Mile submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 14 listings have come on the market, which means new availabilities most likley are 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 2,060 sqft. Most buildings in this market are close to 10 floors. Most buildings in this region were built in 1971 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 walking is the most popular way to get to work amongst Miracle Mile folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.