Think it would be cool to own commercial property in L.A.'s arts district? You will need deep pockets.

Wouldn't it be cool to own a warehouse in L.A.'s arts district? Close to funky restaurants, art experiences, and hipsters?  Think of the businesses you could start! Be warned: what was once really cheap -- that's the reason the artists moved there in the first place -- is now super expensive.  Warehouse property is now selling for $600-$700 a square foot.  If you want to lease a warehouse there, it will cost you about $1.75 per square foot per month.  I think we all need to find a new, cheap arts district.