On average, listings lease in the $40's per square foot per year. The Westlake submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $13 per sqft per year. That's a 49% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Westlake submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 18 listings have been listed, which means new listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 1,800 sqft. Most properties in this region are close to 8 floors. Most buildings in this region were built in 1960 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Westlake folk. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.