On average, listings lease in the $40's per square foot per year. The Playhouse District region is seeing a a boost in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 9% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Playhouse District region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 16 listings have been listed, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 19% of the listings 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,000 sqft. Most properties in this area are close to 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.