On average, listings lease in the $30's per square foot per year. The Eastland region is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Eastland region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 22 listings have been posted online, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 18% of the available space in the Eastland 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 790 sqft. Most properties in this market are close to 13 stories. Most buildings in this region were built in 1987 and are Class A.
A large portion of this region 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 occupants. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.