The typical asking rate per listing is in the $30'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 fell $2 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Downtown Pasadena region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 49 listings have come on the market, so you'll want to check back regularly for new listings. About 16% of the office spaces 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,850 sqft. Most properties in this region are close to 3 floors. 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 market. Commute by car is the most popular way to get to work amongst Downtown Pasadena residents. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.