On average, listings lease in the $30's per square foot per year. The Eastland region is experiencing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Eastland submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 22 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 14% of the office spaces in the Eastland are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,690 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are approximately 13 floors. Most buildings in this region were built in 1987 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by bike is the most popular way to get to work amongst Eastland residents. Commuting around an hour a day is the norm for those who opt to reside in this part of town.