Most listings are in the $30's per square foot per year. The City Center region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the City Center submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 19 listings have been listed, which means leases might be going fast. You'll want to be prepared to make an offer immediately. About 174% of the available space in the City Center 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 posted, so finding a space for a small business might be tough.
Even though the median size is 2,880 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are around 12 stories. Most buildings in this region were built in 1987 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Wholesale trade is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst City Center folk. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.