On average, listings lease in the $30's per square foot per year. The Pico Union submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $40 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the Pico Union submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 2 listings have been listed, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 20,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this market are around 2 stories. Most buildings in this area were built in 1958 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Agriculture is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Pico Union occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.