Most listings are in the $60's per square foot per year. The Pico submarket is going through a a boost in rates. In the last 3 months, the median rate rose $13 per sqft per year. That's a 24% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Pico region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 29 listings have been made available, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 14% of the office spaces in the Pico 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,800 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are close to 2 floors. Most buildings in this market were built in 1981 and are Class B.
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 market. 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.