On average, listings lease in the $40's per square foot per year. The Grant Park region is experiencing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Grant Park region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 26 listings have been listed, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 4% of the available space in the Grant 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,630 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 4 floors. Most buildings in this area were built in 1967 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this region. Commute by car is the most popular way to get to work amongst Grant Park occupants. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.