On average, listings lease in the $30's per square foot per year. The Greater Wilshire region is experiencing a decrease in rates. In the last 3 months, the median rate fell $29 per sqft per year. That's a 48% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Greater Wilshire submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 15 listings have been posted online, which means office spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 13% of the office spaces in the Greater Wilshire are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,280 sqft. Most buildings in this area are close to 5 floors. Most buildings in this area were built in 1961 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Greater Wilshire folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.