Most listings are in the $30's per square foot per year. The Playhouse District submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Playhouse District region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 13 listings have come on the market, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 15% of the available leases in the Playhouse District are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,450 sqft. Most properties in this area are close to 3 floors. Most buildings in this region were built in 1968 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Playhouse District occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.