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)
6,030
As of: July 27, 2017

Pico Rates

On average, listings lease in the $50's per square foot per year. The Pico region is going through a decline in rates. In the last 3 months, the median rate decreased $6 per sqft per year. That's a 9% decrease in rent.

Compared to the rest of the Metropolitan Los Angeles market, the Pico region has more expensive rates, and you'll need to make a great offer 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 going fast. You'll want to be prepared to tour spaces as quick as possible. About 12% 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 6,030 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are close to 2 stories. Most buildings in this region 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 market. Commute by public transit is the most popular way to get to work amongst Pico folk. 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