Wilshire Center - Koreatown Retail

Wilshire Center - Koreatown

Office Space Market Report

Number of Listings (last 90 days)
7
Median Rate ($/sqft/yr)
$40
Median Size (sqft)
3,300
As of: February 27, 2017

Wilshire Center - Koreatown Rates

On average, listings lease in the $30's per square foot per year. The Wilshire Center - Koreatown region is seeing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 9% decrease in rent.

Compared to the rest of the Metropolitan Los Angeles market, the Wilshire Center - Koreatown submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.

Wilshire Center - Koreatown Listing Supply

In the last 90 days, 7 listings have been listed, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 29% of the office spaces in the Wilshire Center - Koreatown 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 posted, so finding a space for a small business might be tough.

Even though the median size is 3,300 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 12 stories. Most buildings in this region were built in 1960 and are Class A.

Wilshire Center - Koreatown Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by motorcycle is the most popular way to get to work amongst Wilshire Center - Koreatown folk. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Wilshire Center - Koreatown.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Wilshire Center - Koreatown.
Research