On average, listings lease in the $40's per square foot per year. The Pasadena Civic Center District region is experiencing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Pasadena Civic Center District submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 8 listings have been made available, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 25% of the available space in the Pasadena Civic Center District are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 750 sqft. Most properties in this area are close to 6 stories. Most buildings in this area were built in 1928 and are Class C.
A large portion of this market is residential, but there's plenty of office_space. Real estate is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Pasadena Civic Center District occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.