On average, listings lease in the $30's per square foot per year. The The Colony region is seeing a a boost in rates. In the last 3 months, the median rate rose $17 per sqft per year. That's a 105% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the The Colony submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 8 listings have come on the market, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,820 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 2 stories. Most buildings in this market were built in 1984 and are Class B.
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 area. Commute by motorcycle is the most popular way to get to work amongst The Colony 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.