On average, listings lease in the $40's per square foot per year. The Old Pasadena region is experiencing a a boost in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 5% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Old Pasadena submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 13 listings have been listed, which means listings might be going fast. You'll want to be prepared to make an offer immediately. About 15% of the listings in the Old Pasadena are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,720 sqft. Most properties in this region are approximately 3 floors. Most buildings in this region were built in 1923 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Old Pasadena occupants. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.