On average, listings lease in the $30's per square foot per year. The Playhouse District region is going through a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Playhouse District submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 14 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 1,780 sqft. Most buildings in this market are around 3 floors. Most buildings in this area were built in 1968 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 region. Commute by walking is the most popular way to get to work amongst Playhouse District occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.