On average, listings lease in the $40's per square foot per year. The Grant Park submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $4 per sqft per year. That's a 8% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Grant Park region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 16 listings have been posted online, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the listings in the Grant Park are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,330 sqft. Most properties in this market are around 4 stories. Most buildings in this area were built in 1967 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Grant Park occupants. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.