2024 Office Space Rent & Sales
- $75.40 2024 Avg. Asking Rent
- 13.83% 2024 Office Vacancy Rate
Santa Monica office price per square foot in 2024 was $75.40 on average. The local office market recorded an average vacancy rate of 13.83% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- Santa Monica Class A & A+ Office Space$93.50
- Santa Monica Class B Office Space$66.99
- California Class A & A+ Office Space$60.31
- California Class B Office Space$38.42
- California Class C Office Space$26.20
Santa Monica, CA Office Asking Rents by Class
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2024 Office Construction in Santa Monica, CA
- Santa Monica, CA Total SF completed in 2024 84,648
During 2024, 84,648 square feet of new office space were delivered across the market. At the close of 2024, the Santa Monica office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 84,648 square feet of office space.
| 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 | 2834 Colorado Ave, 90404 | 424,403 | 2017 |
| Santa Monica Gateway | 2834 Colorado Avenue, 90404 | 205,215 | 2017 |
| 1347 19th Street | 1347 19th Street, 90404 | 3,475 | 2017 |
| 820 Broadway, Santa Monica | 820 Broadway, 90401 | 9,905 | 2004 |
| 1617 Broadway | 1617 Broadway, 90404 | 15,110 | 2002 |
| 1535 6th St | 1535 6th St, 90401 | 47,270 | 2001 |
| 3212 Santa Monica Blvd | 3212 Santa Monica Blvd, 90404 | 3,500 | 2001 |
| 2450 Colorado Avenue | 2450 Colorado Avenue, 90404 | 277,914 | 2000 |
Worth noting among recent office completions on the Santa Monica market is 1650 Euclid Street, which is currently the largest new office development in the city, at 65,398 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Santa Monica commercial properties sized 25,000 square feet or larger.
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.