The typical asking rate per listing is in the $80's per square foot per year. The Downtown Santa Monica submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $18 per sqft per year. That's a 26% rise in rent.
In the last 90 days, 14 listings have been listed, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 43% of the office spaces in the Downtown Santa Monica are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 1,180 sqft. Most properties in this market are around 4 floors. Most buildings in this market were built in 1987 and are Class A.
A large portion of this area 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 folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.