Miracle Mile Retail

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Miracle Mile

Office Space Market Report

Number of Listings (last 90 days)
Median Rate ($/sqft/yr)
Median Size (sqft)
As of: October 20, 2016

Miracle Mile Rates

The typical asking rate per listing is in the $50's per square foot per year. The Miracle Mile submarket is seeing a a boost in rates. In the last 3 months, the median rate rose $55 per sqft per year. That's a Inf% increase in rent.

Compared to the rest of the Metropolitan Los Angeles market, the Miracle Mile submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.

Miracle Mile Listing Supply

In the last 90 days, 10 listings have come on the market, which means spaces 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 5,400 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are approximately 10 stories. Most buildings in this market were built in 1971 and are Class A.

Miracle Mile Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Miracle Mile occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.