the sign of a Profitable Property

Market Report: Santa Monica

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 

  • DEALS LEASED 2021
  • DEALS LEASED 2022

Leasing Market Overview

Comparing 2021 vs 2022

The number of leasing deals and square feet leased in Santa Monica only reported a 10% decrease year-over-year. Although 2022Q4 experienced the bottom of leases signed in the past two years, total leasing activity shows an annual high of about 92,974 SF leased, a 47% increase from the previous quarter.

Santa Monica remains one of the higher-profile retail locations in the county. The Third Street Promenade is an integral destination for tourists, and with Gold’s Gym returning with a flagship location at 1202 3rd St., retailers can expect a higher traffic count on that strip.

SNAPSHOT OF LEASES SIGNED

No. Signed Date Start Date Address SF Leased Rent/SF/Mo Months on Market Leasing Rep Company
1 Dec 2022 Jan 2023 1431 Ocean Ave Santa Monica 1,414 2 Mos Douglas Emmett Management, LLC
2 Dec 2022 Jan 2023 2401-2415 Wilshire Blvd Santa   Monica 800 47.4 10 Mos Douglas Elliman
3 Dec 2022 May 2023 1230 Santa Monica Blvd Santa   Monica 62,725 57.36 16 Mo CBRE
4 Dec 2022 Feb 2023 631 Wilshire Blvd Santa Monica 529 90 6 Mo CBRE
5 Dec 2022 Jan 2023 2002-2010 Wilshire Blvd Santa   Monica 1,102 59.4 14 Mo PAR Commercial Brokerage, Inc.
6 Dec 2022 Jan 2023 2307 Lincoln Blvd Santa Monica 1,647 11 Mos Lee & Associates - West
7 Dec 2022 Dec 2022 3221-3233 Donald Douglas Loop S Santa Monica 1,679 46.2 35 Mo Corporate Realty Group
8 Dec 2022 Dec 2022 2640 Lincoln Blvd Santa Monica 700 42 13 Mo Corporate Realty Group
9 Nov 2022 Dec 2022 1518-1534 Montana Ave Santa   Monica 1,241 5 Mos Thirty Three Group
10 Nov 2022 Dec 2022 2528-2538 San Vicente Blvd Santa   Monica 1,197 96 24 Mo Kennedy-Wilson Properties, Ltd.
11 Nov 2022 Dec 2022 1446-1450 3rd St Santa Monica 4,500 12 Mos Tenzer Commercial Brokerage Inc
12 Nov 2022 Dec 2022 3302-3330 Pico Blvd Santa Monica 2,900 36 5 Mo Westside Retail
13 Nov 2022 Dec 2022 2621 Wilshire Blvd Santa Monica 2,750 8 Mos Compass
14 Nov 2022 Nov 2022 3001-3003 Pico Blvd Santa Monica 2,500 7 Mos Broadway Capital Partners
15 Oct 2022 Nov 2022 626-630 Wilshire Blvd Santa   Monica 1,200 65 12 Mo Watts Residential Real Estate
16 Oct 2022 Nov 2022 3116 2nd St Santa Monica 1,700 3 Mos NAI Capital
17 Oct 2022 Nov 2022 702-718 Montana Ave Santa Monica 819 4 Mos CBRE
18 Oct 2022 Dec 2022 233 Wilshire Blvd Santa Monica 7,791 0 Mos Douglas Emmett Management, LLC
19 Oct 2022 Dec 2022 1540 6th St Santa Monica 1,226 45.84 3 Mo Compass Real Estate
20 Oct 2022 Nov 2022 2116 Main St Santa Monica 1,838 3 Mos Eve Capital, Compass
21 Oct 2022 Nov 2022 120 Broadway Santa Monica 2,711 31 Mos Douglas Emmett Management, LLC

SOURCE: CoStar 

Successful Tenants

Meet Tia, owner of Tia Donuts. After leaving Cambodia and arriving in the United States, Tia started working at a donut shop where she learned the basics of baking donuts.

Later after opening her first store in 2005 in San Francisco, she decided to sell it and move to Los Angeles, finding a location in Reseda, between Reseda blvd., and Oxnard st.

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