the sign of a Profitable Property

Market Report: 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


  • Q2 - 2021
  • Q2 - 2022
  • Q2 - 2023

Leasing Market Overview


Santa Monica is a well-known shopping destination in the city, attracting both tourists and local workers. The Third Street Promenade in Downtown Santa Monica is particularly popular among tourists. The area has benefited from its daytime workforce and favorable demographics.

However, due to the impact of the pandemic, the number of tourists and workers visiting Santa Monica has not yet fully recovered to pre-pandemic levels. As a result, there is reduced demand for retail spaces in the area. The vacancy rates, which were already increasing between 2016 and 2019, have further risen. Additionally, while Santa Monica’s rents are among the highest in the country, their growth rate has been slower compared to the overall market average for the past six years.


No. Signed Date Start Date Address SF Leased Rent/SF/Mo Months on Market Leasing Rep Company
1 Apr-23 May-23 2020-2024 Pico Blvd 1,570 3.75 6 Muselli Commercial Realtors
2 Apr-23 May-23 1201-1211 Wilshire Blvd 1,500 3.83 11 Kennedy-Wilson Properties, Ltd.
3 Apr-23 Jun-23 3002 Main St 5,018 6.25 14 Industry Partners
4 May-23 Jun-23 2714-2718 Main St 1,100 5.95 15 PAR Commercial Brokerage, Inc.
5 May-23 Jun-23 106-108 W. Channel Rd 1,468 7.17 3 Westside Property Management
6 Jun-23 Jul-23 1415-1419 2nd St 1,304 7.50 21 Kennedy-Wilson Properties, Ltd.
7 Jun-23 Jul-23 2660-2666 Lincoln Blvd 500 21.00 4 Muselli Commercial Realtors
8 Jun-23 Jul-23 2430-2434 Main St 1,800 5.75 3 Perloff-Webster Company
9 Jun-23 Jul-24 2822 Santa Monica Blvd 1,017 5.50 34 CBRE
10 Jun-23 Jul-23 1636 Ocean Park Blvd 1,200 3.83 4 COMPASS Commercial


Successful Tenants

Meet Gary Kasden, the owner of 6300 Sepulveda Blvd in Van Nuys, CA. Gary’s success story serves as an excellent example of how a tenant can positively impact not only the leased property but also the surrounding properties. As an owner and investor of over a dozen properties across the U.S., Gary is fully dedicated to overseeing his properties and actively involved in every step, ranging from selecting the right tenant to property maintenance and updates.