The typical asking rate per listing is in the $60's per square foot per year. The Greater Wilshire submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $14 per sqft per year. That's a 28% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Greater Wilshire submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 3 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 6,440 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are close to 5 stories. Most buildings in this region 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 market. Commute by walking is the most popular way to get to work amongst Greater Wilshire residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.