Looking for office space for lease in Pasadena, Glendale, Burbank or Los Angeles? Iliad Real Estate Group helps businesses find, compare and negotiate commercial leases for office, retail, creative and industrial space. We also help landlords lease vacant space to qualified tenants.
Commercial Leasing Services for Tenants
- Defining your space needs, budget, location and timeline
- Searching listed and off-market space across the San Gabriel Valley, Tri-Cities and Los Angeles
- Touring buildings and comparing proposals on a true total-cost basis
- Negotiating rent, free rent, tenant improvement (TI) allowances, renewal options and caps on operating expenses
- Reviewing lease terms with you and coordinating with your attorney
- Lease renewals, expansions, relocations and subleases
Learn more about our office tenant representation services.
Commercial Leasing Services for Landlords
- Market rent analysis and leasing strategy
- Listing, marketing and broker outreach for available suites
- Tenant qualification and financial review
- Negotiating letters of intent and lease terms
- Ongoing property management after the lease is signed
Have space to fill or a building to sell? Learn more about our landlord representation and commercial leasing services.
How Commercial Space Is Priced
Commercial space is usually quoted as a rental rate per rentable square foot (RSF), either per month or per year. Rentable square feet equal the usable square feet (USF) inside your suite plus a share of the building’s common areas, such as the lobby, hallways and restrooms. That share is called the load factor. A full-service office building with many amenities typically has a higher load factor than a stand-alone warehouse, so two spaces with the same usable area can carry very different rent.
Common Types of Commercial Leases
Full Service Gross (FSG)
Most common in multi-tenant office buildings. The landlord pays building operating expenses, property taxes, insurance and usually utilities and janitorial, and builds those costs into the rent. Increases above a base year are often passed through to tenants.
Modified Gross (MG)
The landlord covers most expenses, but the tenant pays some, often its own electricity, janitorial service, or both.
Net, Double Net and Triple Net (NNN)
Common for retail and industrial property. The tenant pays base rent plus its share of property taxes, insurance and common area maintenance. In a triple net lease the tenant pays all three, so it is important to estimate those charges before comparing rents.
Lease Terms Worth Negotiating
- Tenant improvements: who pays to build out or refresh the space. See tenant improvements explained.
- Free rent and rent escalations: months of abated rent and the annual increase rate
- Term and options: lease length, renewal options, expansion rights and early termination
- Operating expense caps: limits on how much pass-through costs can rise each year
- Security deposit and personal guarantee: reducing your upfront cash and personal liability
- Parking, signage and after-hours HVAC: costs that are easy to overlook
Commercial Leasing FAQs
How much does office space cost in Pasadena or Glendale?
Rents vary widely by building class, location, amenities and lease type. Contact us for a current survey of available spaces and asking rents in the area you are considering.
How long is a typical office lease?
Many small office leases run three to five years. Longer terms often come with better tenant improvement allowances and more free rent, while shorter terms offer flexibility.
Can you help me sublease my space?
Yes. We market sublease space, qualify subtenants and help you obtain the landlord’s consent required by most leases.
Talk to Iliad Real Estate Group
Call (818) 836-4070, email Office@IliadRealEstate.com, or send us a message. Our office is at 750 E. Green Street, Suite 310, Pasadena, CA 91101, and we work with clients throughout Pasadena, Glendale, Burbank, the San Fernando Valley and greater Los Angeles.