On average, listings lease in the $40's per square foot per year. The Old Pasadena submarket is going through a a boost in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 4% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Old Pasadena submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 12 listings have been made available, which means new availabilities are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 25% of the available space in the Old 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 2,420 sqft. Most properties in this area are around 3 stories. Most buildings in this region were built in 1923 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Old Pasadena occupants. Commuting approximately 15 minutes a day is the norm for those who opt to reside in this part of town.