Pico Retail

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Pico

Market Report

Number of Listings
Posted in the last 90 days
0
Median Rate ($/sqft/yr)
$59
Median Size (sqft)
5,820

Pico Rates

The typical asking rate per listing is in the $50's per square foot per year. The Pico submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 13% decline in rent.

Compared to the rest of the Metropolitan Los Angeles market, the Pico region has higher rates, and you'll need to pay a premium to be in this hot submarket.

Pico Listing Supply

In the last 90 days, 188 listings have been made available, so you'll want to check back regularly for new listings. About 10% of the office spaces in the Pico are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

Even though the median size is 5,820 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this market were built in 1978 and are Class B.

Pico Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Pico residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Data

Real time and historical data on commercial real estate listings in Pico.
Research