On average, listings lease in the $80's per square foot per year. The Wilshire-Montana submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $86 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the Wilshire-Montana submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 17 listings have been made available, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 53% of the listings in the Wilshire-Montana are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,680 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are around 4 stories. Most buildings in this region were built in 1958 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Commute by car is the most popular way to get to work amongst Wilshire-Montana residents. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.