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
- Q4 - 2023
- Q4 - 2024
- Q4 - 2025
Leasing Market Overview
MEASURING Q4 2025Santa Monica has undergone a meaningful market recalibration following tech-sector retrenchment and evolving workplace strategies. Rental rates have trended downward since 2022, while vacancy expanded materially through 2024 and 2025. Leasing activity remains uneven, creating a tenant-favorable environment. Long-term fundamentals remain strong due to location and talent access, despite near-term softness.
SNAPSHOT OF LEASES SIGNED
| Signed Date | Start Date | Address | SF Leased | Rent/SF/Mo | Months on Market | Leasing Rep Company |
|---|---|---|---|---|---|---|
| Oct 2025 | Nov 2025 | 1507-1511 Lincoln Blvd | 1625 | $5.00 | 35 Mos | Brandon Cohan Real Estate |
| Oct 2025 | Nov 2025 | 3223 Wilshire Blvd | 2630 | $8.00 | 33 Mos | Matthew Real Estate Investment Services |
| Oct 2025 | Nov 2025 | 2415-2449 Main St | 2036 | $4.50 | 18 Mos | Industry Partners |
| Oct 2025 | Nov 2025 | 1230 Montana Ave | 623 | $8.95 | 5 Mos | Muselli Commercial Realtors |
| Oct 2025 | Nov 2025 | 2102-2116 Wilshire Blvd | 1000 | $3.25 | 2 Mos | Muselli Commercial Realtors |
| Oct 2025 | Nov 2025 | 3117 Ocean Park Blvd | 888 | $6.19 | 7 Mos | PAR Commercial Brokerage, Inc. |
| Oct 2025 | Apr 2026 | 1318-1332 Wilshire Blvd | 1000 | $3.50 | 9 Mos | Stevenson Real Estate Services |
| Nov 2025 | Nov 2025 | 1302-1316 Montana Ave | 868 | $7.75 | 34 Mos | Jarco Commercial Real Estate |
| Nov 2025 | Jan 2026 | 2621 Pico Blvd | 1075 | $4.46 | 3 Mos | Danmour & Associates Management |
| Nov 2025 | Nov 2025 | 2635 Wilshire Blvd | 3950 | $3.95 | 7 Mos | Westside Retail |
SOURCE: CoStar
