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 2022The 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