Santa Monica Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Santa Monica is $71.71 per square foot, 4.89% lower compared to the previous year.
  • The market’s vacancy rate stands at 13.11%, lower than the state average of California, which is 18.44%.

2025 Office Space Rent & Sales

  • $71.71 2025 Avg. Asking Rent
  • -4.89% Y-o-Y Avg. Asking Rent Change
  • 13.11% 2025 Office Vacancy Rate
  • $119.6M2025 Total Office Sales
  • $546.36Avg. Sale Price/SF

What is the average asking rent price for office space in Santa Monica?

Average asking rents for office space here stand at $71.71 per square foot. The local office market recorded an average vacancy rate of 13.11% in 2025, unchanged from 13.11% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $119.6M across 5 sales. These transactions commanded an average sale price per square foot of $546.36.

Santa Monica, CA Office Asking Rents by Class

What is the average office rent per square foot by property class in Santa Monica?

  • Avg. Asking Rent Class A & A+$74.83
  • Avg. Asking Rent Class B$67.68

What is the average office rent per square foot by property class in CA?

  • Avg. Asking Rent Class A & A+$58.81
  • Avg. Asking Rent Class B$37.82
  • Avg. Asking Rent Class C$22.26

For comparison, the average rent for Class A and A+ office space in California was $58.81 per square foot. The state-wide average for Class B space was $37.82 per square foot, and Class C office spaces averaged $22.26 per square foot.

Explore Top Office Markets in California

2025 Office Sales Volume

  • $546.362025 Avg. Price per SF
  • -5.42%Y-o-Y Avg. PpSF Change
  • $119.6M2025 Office Sales Volume
  • 52025 Number of Transactions

What is the average sale price per square foot for office space in Santa Monica?

Average sale prices for office space in this market recorded a -5.42% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $546.36 per square foot. For comparison, the statewide California average during the same time period stood at $295.06 per square foot, while the national average was $182.48 per square foot.

Santa Monica, CA Sale Price per SF Trend

  • Santa Monica Avg. Sale Price per SF in 2025$546.36
  • California Avg. Sale Price per SF in 2025$295.06

What was the total office sales volume in Santa Monica in 2025?

The local office market recorded 5 deals in 2025, adding up to a yearly sales volume of $119.6M.

  • Santa Monica, CA Total Office Sales Volume in 2025 $119.6M
  • Santa Monica, CA Total Number of Office Sales Closed in 2025 5
Data provided by Yardi Research

Office Construction in Santa Monica, CA

What are the largest recent office completions in Santa Monica?

The largest recent office completion here is 2450 Colorado Avenue at 277,914 square feet, completed in 2000. The next largest completions are Santa Monica Gateway - Shift and 1650 Euclid Street.

Office building Address SF Completed
1650 Euclid Street 1650 Euclid Street, 90404 65,398 2024
1404 3rd Street Promenade 1404 3rd Street Promenade, 90401 26,750 2024
Santa Monica Gateway - Shift 2834 Colorado Ave., 90404 144,000 2018
Santa Monica Gateway - Ice 2834 Colorado Ave., 90404 60,166 2018
1538 20th St 1538 20th St, 90404 10,700 2006
820 Broadway, Santa Monica 820 Broadway, 90401 9,905 2004
3212 Santa Monica Blvd 3212 Santa Monica Blvd, 90404 3,500 2001
2450 Colorado Avenue 2450 Colorado Avenue, 90404 277,914 2000
900 Wilshire Blvd 900 Wilshire Blvd, 90401 33,455 1997
1341-1351 4th Street 1341 4th Street, 90401 32,317 1995
Data provided by Yardi Research

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Disclaimer

All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.