Broadway rents are outrageous

At 740-746 S. Broadway, they range from $6.45 to $12.05 per square foot per month, reports Blogdowntown's Eric Richardson. That's crazy high compared with many parts of downtown (or the rest of L.A., for that matter). Just a block or two away at 7th and Spring, five retail spaces are being listed for $1 per square foot per month.

Such high rents were easy to get on Broadway when the street was the region's primary Latino shopping district, but as shoppers have looked elsewhere building owners have found it much tougher to command the same figures and the vacancy rates on the street have risen dramatically. While some owners have responded by lowering their asking price, others seem to still feel takers are out there.