Pico Commercial Real Estate

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CBRE
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2425 Olympic Blvd - Floor 4 Santa Monica, CA rental rate negotiable
Jun 22
8,590
sqft
Sublease Office

Pico

Market Report

Number of Listings
Posted in the last 90 days
18
Median Rate ($/sqft/yr)
$59
Median Size (sqft)
6,000

Pico Rates

On average, listings lease in the $70's per square foot per year. The Pico region is going through a an increase in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 5% increase in rent.

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

Pico Listing Supply

In the last 90 days, 188 listings have been listed, so you'll want to check back regularly for new listings. About 6% of the listings in the Pico are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.

Even though the median size is 9,190 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are close to 2 floors. Most buildings in this region 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 region. Commute by public transit is the most popular way to get to work amongst Pico occupants. 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