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Pen Factory - East Building

Off-Market

2701 Olympic Blvd, Santa Monica, CA 90404

This property is off-market. Unlock in-depth property data and market insights by signing up to CommercialEdge.

  • Property Type Office - Creative Office
  • Property Size 90,000 Sqft
  • Lot Size 7.14 Acre
  • Parking Spaces Avail. 450
  • Parking Ratio 5.00/ 1,000 SF
  • Property Tenancy Single Tenant
  • LEED Certified Gold
  • Building Class A
  • Year Built 2017

Location

  • City Santa Monica, CA
  • Neighborhood Mid-City Santa Monica
  • Zip Code 90404
  • Market Los Angeles

Contacts

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Owner

  • True Owner
  • Registered Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Documents

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Sales

  • Purchase Price
  • Arm's Length True
  • Buyer Name

Market Trends

Average Actual Rents in Santa Monica

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Santa Monica Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $72.71
  • 2020 Office Vacancy Rate 11.55%
  • 2020 Office Completions (Sqft) 80,109
View more Santa Monica market trends

Tax

  • Property Tax in 2021-2022 $2,922,276
  • Market Value $251,421,814
  • Assessed Value $251,421,814

Find more tax info, including assessment history and abatements, on CommercialEdge

Frequently Asked Questions

What is the total square footage of Pen Factory - East Building?

Pen Factory - East Building totals 90,000 square feet.

When was this property built?

Pen Factory - East Building was built in 2017.

What is the property tax for Pen Factory - East Building?

The property tax for Pen Factory - East Building in 2021-2022 was $2,922,276.

What is the market value for Pen Factory - East Building?

The market value for Pen Factory - East Building in 2021-2022 was $251,421,814.

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Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.