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 increased $12 per sqft per year. That's a 21% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Pico submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 31 listings have been posted online, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 13% of the available leases in the Pico are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 2,800 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 2 stories. Most buildings in this market 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 market. Commute by public transit is the most popular way to get to work amongst Pico residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.