The typical asking rate per listing is in the $40's per square foot per year. The Downtown Pasadena submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $6 per sqft per year. That's a 13% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Downtown Pasadena submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 84 listings have been listed, so you'll want to check back regularly for new listings. About 17% 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,200 sqft. Most properties in this area are approximately 3 stories. Most buildings in this market 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 area. 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.