Most listings are in the $60's per square foot per year. The Pico region is seeing a a boost in rates. In the last 3 months, the median rate rose $0 per sqft per year. That's a 1% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Pico submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 34 listings have been made available, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 6% of the available space in the Pico are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 3,240 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are close to 2 floors. Most buildings in this region were built in 1981 and are Class B.
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 region. 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.