On average, listings lease in the $40's per square foot per year. The Downtown Pasadena submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Downtown Pasadena submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 62 listings have been made available, so you'll want to check back regularly for new listings. About 18% of the office spaces in the Downtown Pasadena are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,050 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are around 3 stories. Most buildings in this area were built in 1968 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Downtown Pasadena occupants. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.