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Submarket Snapshot: Pasadena’s office market in Q1 2016

The entrance to one of the Pasadena Towers
The entrance to one of the Pasadena Towers

Pasadena’s 7.6 million-square-foot office submarket saw 14.8 percent vacancy in the first quarter, according to a report by Transwestern. 

Its vacancy rate was higher than the 14.4 percent average for the Tri-Cities market.

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Rent in Pasadena averaged $3.21 in the first quarter, pricier than the $3.12 Tri-Cities average.

The submarket saw 7,220 square feet of positive absorption.

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