On average, listings lease in the $50's per square foot per year. The Eastern Malibu submarket is going through a decline in rates. In the last 3 months, the median rate fell $30 per sqft per year. That's a 36% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Eastern Malibu submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 2 listings have been made available, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 50% of the available space in the Eastern Malibu 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 600 sqft. Most properties in this region are around 2 stories. Most buildings in this region were built in 1980 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Eastern Malibu folk. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.