Pico Retail

1828 Broadway Unit C (Floor 2)
Pico, Santa Monica, CA

Pico

Office Space Market Report

Number of Listings (last 90 days)
33
Median Rate ($/sqft/yr)
$55
Median Size (sqft)
4,850
As of: June 22, 2017

Pico Rates

On average, listings lease in the $50's per square foot per year. The Pico region is going through a an increase in rates. In the last 3 months, the median rate increased $55 per sqft per year.

Compared to the rest of the Metropolitan Los Angeles market, the Pico submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.

Pico Listing Supply

In the last 90 days, 33 listings have come on the market, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 21% of the available space in the Pico 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.

Even though the median size is 5,350 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are close to 2 floors. Most buildings in this area were built in 1980 and are Class B.

Pico Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Pico occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Pico.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Pico.
Research