Most listings are in the $60's per square foot per year. The Pico region is seeing a a rise in rates. In the last 3 months, the median rate rose $13 per sqft per year. That's a 23% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Pico submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 33 listings have been posted online, which means leases might be going fast. You'll want to be prepared to make an offer immediately. About 24% of the listings 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 9,190 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this area were built in 1980 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 region. Commute by public transit is the most popular way to get to work amongst Pico residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.