The typical asking rate per listing is in the $40's per square foot per year. The South Lake submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the South Lake submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 27 listings have been listed, which means spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 4% of the listings in the South Lake are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 2,290 sqft. Most properties in this market are close to 4 floors. Most buildings in this market were built in 1961 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by walking is the most popular way to get to work amongst South Lake folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.