The typical asking rate per listing is in the $40's per square foot per year. The South Park region is going through a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 1% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the South Park region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 34 listings have been posted online, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the listings in the South Park are subleases, so you will probably have to focus your search on direct office leases. 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 2,340 sqft. Most buildings in this area are approximately 4 floors. Most buildings in this region were built in 1933 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Professional services is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst South Park residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.