The typical asking rate per listing is in the $50's per square foot per year. The South Park submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $11 per sqft per year. That's a 23% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the South 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, 34 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 65% of the available leases in the South Park 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,630 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are around 4 floors. Most buildings in this market were built in 1933 and are Class B.
A large portion of this area is residential, but there's plenty of office_space. Professional services is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst South Park occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.