On average, listings lease in the $30's per square foot per year. The South Pasadena submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $9 per sqft per year. That's a 18% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the South Pasadena region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 3 listings have come on the market, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 33% of the listings in the South Pasadena 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 340 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this market were built in 1950 and are Class B.