2022 Office Space Rent & Sales
- $61.40 2022 Avg. Asking Rent
- 12.42% 2022 Office Vacancy Rate
Santa Monica office price per square foot in 2022 was $61.40 on average. The local office market recorded an average vacancy rate of 12.42% across all asset classes combined.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Santa Monica Class A & A+ Office Space$91.74
- Santa Monica Class B Office Space$57.39
- California Class A & A+ Office Space$59.32
- California Class B Office Space$37.75
- California Class C Office Space$25.55
Santa Monica, CA Office Asking Rents by Class
Coworking Spaces in California
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2022 Office Construction in Santa Monica, CA
- Santa Monica, CA Total SF completed in 2022 32,697
During 2022, 32,697 square feet of new office space were delivered across the market. At the close of 2022, the Santa Monica office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 32,697 square feet of office space.
Office building | Address | SF | Completed |
---|---|---|---|
Euclid 1650 | 1650 Euclid Street, 90404 | 69,011 | 2024 |
The Mark 302 | 302 Colorado Avenue, 90401 | 107,435 | 2020 |
Pen Factory | 2701 Olympic Blvd., 90404 | 222,000 | 2017 |
Santa Monica Gateway | 2834 Colorado Avenue, 90404 | 205,215 | 2017 |
1221 2nd St | 1221 2nd St, 90401 | 19,515 | 2002 |
The Water Garden - 1601 Cloverfield | 1601 Cloverfield Blvd, 90404 | 341,379 | 2000 |
2450 Colorado Avenue | 2450 Colorado Avenue, 90404 | 277,914 | 2000 |
Arboretum Courtyard - 2120 Colorado Avenue | 2120 Colorado Avenue, 90404 | 85,401 | 1999 |
1335 4th St | 1335 4th St, 90401 | 13,462 | 1998 |
830 Colorado Ave | 830 Colorado Ave, 90401 | 2,908 | 1998 |
Worth noting among recent office completions on the Santa Monica market is Euclid 1650, which is currently the largest new office development in the city, at 69,011 square feet.
See reports for other markets
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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 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, 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 CommercialEdge can guarantee that the information provided is complete.