The typical asking rate per listing is in the $30's per square foot per year. The Playhouse District submarket is going through a an increase 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 higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 16 listings have come on the market, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 13% of the available leases in the Playhouse District are subleases, so you might be able to snag a great spot on a short term. 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 1,450 sqft. Most properties in this area are approximately 2 stories. Most buildings in this market 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 area. 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.