On average, listings lease in the $40's per square foot per year. The Downtown Pasadena submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% rise 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 region.
In the last 90 days, 44 listings have been posted online, so you'll want to check back regularly for new listings. About 109% of the available leases in the Downtown 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,350 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are around 3 stories. Most buildings in this area 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 residents. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.