On average, listings lease in the $90's per square foot per year. The Downtown Santa Monica submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $13 per sqft per year. That's a 16% rise in rent.
In the last 90 days, 17 listings have been made available, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 41% of the office spaces in the Downtown Santa Monica are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,180 sqft. Most buildings in this region are close to 4 stories. Most buildings in this market were built in 1987 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Real estate is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Downtown Santa Monica occupants. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.