South LA Commercial Real Estate Agent
South LA Commercial Real Estate Agent: Jonathan Varsano
South LA Commercial Real Estate Agent, Jon Varsano, has been working in this market for 30 years. Vars Real Estate is centrally located in Culver City on Robertson Blvd, just east of Downtown Culver City. Vars Real Estate represent landlords, tenants, buyers, sellers, and investors for property transactions such as leases, sales, and real estate advisory services. We will walk you through the commercial real estate transaction process whether you are a seasoned investor or a newcomer just learning the market. We gladly provide guidance on financing, both conventional and private, for borrowers with good credit and not-so-good credit. We also refer contractors, property managers, maintenance companies, legal services, insurance, tax strategies, 1031 exchanges, and any other commercial property needs.
South Los Angeles: Not Easily Defined
The South Los Angeles Commercial Real Estate submarket, also known as South LA, formerly referred to as South Central LA, is a in southwestern Los Angeles County. It’s mostly in the City of Los Angeles but Inglewood and other cities/communities are often included. South LA Commercial Real Estate Agents may define the area slightly differently but it’s mostly the area south of the 10 freeway and north of the 105 freeway that is not included in West LA. The LA Times has mapped its own definition of South L.A. with relevant statistics and demographics. The South LA neighborhoods that define the region are as follows: Adams-Normandie, Baldwin Hills/Crenshaw, Broadway-Manchester, Central-Alameda, Chesterfield Square, Exposition Park, Florence, Gramercy Park, Green Meadows, Harvard Park, Historic South Central, Hyde Park, Jefferson Park, Leimert Park, Manchester Square, Nevin, South Park, University Park, Vermont Knolls, Vermont Square, Vermont Vista, Vermont-Slauson, Watts, West Adams, Athens, Florence-Firestone, Westmont, Willowbrook, View Park-Windsor Hills. Mid City and Ladera abut Culver City and may be considered part of South LA, as well.
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SUMMARY STATISTICS FOR COMMERCIAL LEASES IN SOUTH LA (Excluding Inglewood)
Median Rent: $2.00 per sq. ft. per month
Median Months on Market: 7
SUMMARY STATISTICS FOR COMMERCIAL LEASES IN SOUTH LA (Including Inglewood)
Median Rent: $2.08 per sq. ft. per month
Median Months on Market: 5
Source: Costar Lease Comps 3/23/2022 – 3/23/23
SUMMARY STATISTICS FOR COMMERCIAL SALES IN SOUTH LA (Excluding Inglewood)
Retail: $290.25/SF, $1,055,000 (Median)
Office: $328.67/SF, $1,020,000 (Median)
Industrial: $230.50/SF, $1,345,000 (Median)
Land: $156.38/SF, $2,640,500 (Median)
Speciality: $573.39/SF, $3,100,000
Source: Costar Sales Comps 3/23/2022 – 3/23/23
