On average, listings lease in the $40's per square foot per year. The Grant Park submarket is going through a a boost in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 8% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Grant Park region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 16 listings have come on the market, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 6% of the listings in the Grant Park are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 1,330 sqft. Most properties in this market are close to 4 stories. Most buildings in this market were built in 1967 and are Class A.
A large portion of this region 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.