Most listings are in the $30's per square foot per year. The South Park region is experiencing a an increase in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 7% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the South Park submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 34 listings have been listed, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the available leases in the South Park 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,460 sqft. Most properties in this market are approximately 4 stories. Most buildings in this area were built in 1946 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 public transit is the most popular way to get to work amongst South Park folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.