SANTA MONICA
Downtown Santa Monica, Mid-City Santa Monica, North of Montana, Ocean Park, Pico, Sunset Park, and Wilshire Montana
Rent Rate
Leasing Activity SF
Vacant Available SF
SOURCE: CoStar
- Q2 - 2023
- Q2 - 2024
- Q2 - 2025
Leasing Market Overview
MEASURING Q2 2025Santa Monica’s retail availability has jumped to 15.7%, the highest in a decade, as more than 100,000 SF hit the leasing market this year. Single-tenant vacancy is above 10%, while multi-tenant space has climbed to nearly 18%, both historically high. Recent closures include Rite Aid, H&M, and REI.
Tourist and worker traffic remains below pre-pandemic levels, weighing on retail demand. Retail inventory has shrunk by 330,000 SF over the past five years, with no new construction underway. Rents fell 2.9% in the last year and are up just 2.5% over five years, lagging behind the broader LA market.
SNAPSHOT OF LEASES SIGNED
| No. | Signed Date | Start Date | Address | SF Leased | Rent/SF/Mo | Months on Market | Leasing Rep Company |
|---|---|---|---|---|---|---|---|
| 1 | Jun-25 | Jul-25 | 106-108 W Channel Rd | 1,076 | $5.00 | 4 Mos | Westside Property Management |
| 2 | Jun-25 | Jul-25 | 1411-1413 5th St | 3,000 | $4.00 | 9 Mos | Fremont Metro Commercial, Inc. |
| 3 | Jun-25 | Jul-25 | 2020-2024 Pico Blvd | 1,570 | $3.50 | 2 Mos | Muselli Commercial Realtors |
| 4 | Jun-25 | Jul-25 | 2215 Main St | 4,962 | $4.40 | 27 Mos | Zacuto Group |
| 5 | Jun-25 | Jul-25 | 1217-1231 Wilshire Blvd | 1,900 | $5.25 | 34 Mos | PAR Commercial Brokerage, Inc. |
| 6 | May-25 | Jun-25 | 418-424 Wilshire Blvd | 2,700 | $6.25 | 22 Mos | PAR Commercial Brokerage, Inc. |
| 7 | May-25 | May-25 | 2525 Main St | 926 | $4.33 | 8 Mos | Galleria Dimaio |
| 8 | May-25 | May-25 | 1302-1316 Montana Ave | 2,682 | $7.65 | 11 Mos | Jarco Commercial Real Estate |
| 9 | Apr-25 | May-25 | 1335 4th St | 3,000 | $4.00 | 14 Mos | Lee & Associates - West LA |
| 10 | Apr-25 | May-25 | 1727-1731 Ocean Park Blvd | 1,874 | $4.50 | 10 Mos | Michael Geller |
SOURCE: CoStar
