Santa Monica Office Space and Property Rental Market
The Santa Monica office rental market is one of the most popular desired markets for technology startups, venture capitalists, creative, and media industries. There is currently 8,976,166 square feet of office space and properties with 1,292,567 sqft available for lease. The vacancy rate is 14.4% as of 1st quarter, 2019. The average lease rate per square foot for office space is $5.91/SF. The amount of office space gobbled up by tenants in Q1 was 65,634 sqft — according to NGKF. Other areas to find office space in Silicon Beach are in Venice Beach, Culver City, El Segundo, Playa Vista, Marina Del Rey, West Los Angeles, and Downtown Los Angeles.