On average, listings lease in the $50's per square foot per year. The Manhattan Village submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $5 per sqft per year. That's a 9% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Manhattan Village region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 6 listings have come on the market, which means leases might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 2,990 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 6 floors. Most buildings in this area were built in 1985 and are Class A.
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. Most of the occupants of Manhattan Village work from home. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.