On average, listings lease in the $50's per square foot per year. The Northeast Santa Monica region is going through a a boost in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Northeast Santa Monica region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 32 listings have come on the market, which means spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 3% of the available leases in the Northeast Santa Monica are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,140 sqft. Most properties in this area are approximately 4 floors. Most buildings in this market were built in 1978 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Northeast Santa Monica folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Northeast Santa Monica.
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