On average, listings lease in the $70's per square foot per year. The Century City submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 5% decrease in rent.
In the last 90 days, 15 listings have been made available, which means spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 100% of the available leases in the Century City 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 6,940 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 26 stories. Most buildings in this region were built in 1974 and are Class A.
This market is fairly equally mixed residential and commercial. Professional services is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Century City residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.