On average, listings lease in the $40's per square foot per year. The Downtown Pasadena submarket is going through a an increase in rates. In the last 3 months, the median rate rose $8 per sqft per year. That's a 19% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Downtown Pasadena region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 44 listings have come on the market, so you'll want to check back regularly for new listings. About 14% of the listings in the Downtown 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 posted, so finding a space for a small business might be tough.
Even though the median size is 2,910 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are close to 3 stories. Most buildings in this region 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 market. Commute by car is the most popular way to get to work amongst Downtown Pasadena folk. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.