On average, listings lease in the $80's per square foot per year. The Wilshire-Montana submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Wilshire-Montana submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 17 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 6% of the available space in the Wilshire-Montana 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 4,250 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are approximately 4 floors. Most buildings in this market were built in 1958 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Commute by car is the most popular way to get to work amongst Wilshire-Montana occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.