On average, listings lease in the $40's per square foot per year. The City Center region is going through a an increase in rates. In the last 3 months, the median rate increased $43 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the City Center region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 19 listings have come on the market, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 232% of the listings in the City Center are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 6,520 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are approximately 12 floors. Most buildings in this region were built in 1989 and are Class A.
A large portion of this region is residential, but there's plenty of office_space. Wholesale trade is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst City Center residents. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.