The typical asking rate per listing is in the $40's per square foot per year. The South Lake region is going through a a boost in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the South Lake region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 17 listings have come on the market, which means leases are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the available space in the South Lake are subleases, so you will probably have to focus your search on direct office leases. 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 1,290 sqft. Most buildings in this area are around 4 stories. Most buildings in this area were built in 1961 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by walking is the most popular way to get to work amongst South Lake folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.