On average, listings lease in the $30's per square foot per year. The South Park submarket is going through a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 14% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the South Park region has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 50 listings have come on the market, so you'll want to check back regularly for new listings. About 2% of the available space in the South Park are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,720 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are close to 4 floors. Most buildings in this region were built in 1946 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst South Park residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.