On average, listings lease in the $50's per square foot per year. The Manhattan Village region is experiencing a a boost in rates. In the last 3 months, the median rate went up $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 higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 5 listings have been made available, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. 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 3,600 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are around 6 stories. 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.