What Are the Leasing Rates for Office Space in Santa Monica?

Santa Monica is one of the most desirable office markets in all of Los Angeles. Businesses come here for the ocean air, the walkable streets, the talent pool, and the prestige of a Wilshire Boulevard or Ocean Avenue address. But before you fall in love with a building, you need to understand what you are actually going to pay.

This guide breaks down current leasing rates, Santa Monica’s key submarkets, and the specific buildings worth putting on your tour list.

Santa Monica Office Market Snapshot (2026)

Here is the first thing you should know: right now is actually a great time to lease office space in Santa Monica.

The market is carrying a vacancy rate of approximately 30%, which means landlords are competing for tenants, not the other way around. Free rent periods, generous tenant improvement allowances, and flexible lease terms are all being offered to close deals. The rate you see advertised is rarely what tenants actually pay after negotiation.

Here is where the market stands:

  • Total inventory: approximately 11.8 million square feet across 146 buildings (25,000 sq ft and larger)
  • Class A space: approximately 67% of total inventory
  • Class B space: approximately 31% of total inventory
  • Current vacancy rate: approximately 30%

What Does Office Space in Santa Monica Actually Cost?

Asking rates in Santa Monica currently average around $6.25 psf/month, but that number needs context. In a high-vacancy market like this one, effective rents, meaning what tenants actually pay after free rent and concessions are factored in, can run 15 to 25% below the asking rate. A good tenant rep negotiation can close that gap significantly.

Here is the general range by building class:

  • Class A (premier buildings, ocean views, top amenities): $6.50 to $8.00+ psf/month asking
  • Class B (solid buildings, great locations, strong value): $4.50 to $5.75 psf/month asking
  • Class C (functional, budget-conscious options): $2.75 to $3.75 psf/month asking

The quoted rate is never the whole story. Parking ratios, operating expense structures, improvement allowances, and free rent periods all affect what you actually write a check for every month. This is exactly where having a tenant rep working for you changes the outcome, at no cost to you as the tenant.

Santa Monica’s Key Submarkets

Santa Monica is not one uniform market. The neighborhood you choose shapes your commute, your client experience, and your day-to-day quality of life. Here are the major submarkets to know.

Ocean Avenue / Downtown Core

This is the most prestigious address in Santa Monica. Buildings along Ocean Avenue and the blocks closest to the bluffs offer direct ocean views, walkable access to high-end hotels and restaurants, and a business environment that makes a strong first impression on clients and recruits alike.

Featured Buildings:

1299 Ocean Boulevard 1299 Ocean sits right at the water, offering some of the most striking views available in any Los Angeles office building. It is home to professional services firms, law practices, and businesses that understand the value of a memorable address. Beachfront dining, luxury hotels, and the Santa Monica Pier are steps away.

401 Wilshire Boulevard (Wilshire Palisades) Wilshire Palisades sits at the intersection of Wilshire and 4th Street, right at the gateway to Santa Monica’s business core. The building offers sophisticated finishes, proximity to Third Street Promenade, and strong connectivity to the rest of the Westside via the I-10 and Metro E Line.

Wilshire Boulevard Corridor

Wilshire Boulevard is Santa Monica’s primary commercial spine. This corridor runs east-west through the city and offers the densest concentration of Class A and Class B office product. It is well-served by transit, has excellent freeway access, and sits within walking distance of world-class dining, retail, and hospitality.

Featured Building:

100 Wilshire Boulevard 100 Wilshire is one of Santa Monica’s most recognized towers, offering sweeping Pacific Ocean views and top-tier amenities that attract legal firms, financial institutions, and executive offices. The building is steps from Third Street Promenade and surrounded by some of the best dining and hotel options in the city.

Mid-City / Colorado Avenue Corridor

The Colorado Avenue and Broadway corridors offer excellent value and strong connectivity. This submarket is particularly popular with tech companies, media businesses, and creative agencies that need larger floor plates and campus-style environments.

Featured Building:

2500 Broadway (Colorado Center) Colorado Center is a modern, sustainability-focused campus that has become a home for technology companies and creative industries. It sits adjacent to the Expo Line’s 26th St/Bergamot Station, making it one of the most transit-accessible addresses in Santa Monica. The campus includes on-site fitness, dining, and abundant parking.

26th Street / Bergamot Corridor

Just east of the 26th Street Metro station, this submarket bridges Santa Monica and West Los Angeles. It is attractive to companies that want a Santa Monica address with easier freeway access to the I-10 and more competitive rents than the oceanfront blocks.

Featured Building:

1620 26th Street (The Water Garden) The Water Garden is a campus-style complex built around beautiful water features and landscaped grounds. It offers a calm, focused work environment that companies consistently cite as a genuine quality-of-life benefit. It is minutes from the freeway and within walking distance of the Expo Line, making it one of the more accessible campuses on the Westside.

Main Street / South Santa Monica

South Santa Monica, centered around Main Street, has a distinct neighborhood personality. It is more eclectic and community-driven than the Wilshire corridor, with boutique retail, local restaurants, and a relaxed energy that appeals to creative and lifestyle brands. This submarket tends to offer competitive Class B and C pricing while still sitting within Santa Monica city limits.

Why Santa Monica Still Wins for So Many Companies

Here is what consistently brings businesses to this market:

  • Access to one of the deepest creative and tech talent pools in Los Angeles
  • Walkability that most LA submarkets simply cannot offer
  • Direct Metro E Line service connecting to downtown LA and beyond
  • A brand association that resonates with clients, partners, and job candidates
  • Proximity to the beach, which matters more for culture and retention than people often admit
  • A high-vacancy market right now that puts real negotiating power in the tenant’s hands

The Buildings Worth Touring in Santa Monica

All of these buildings are featured on the TenantRepLA property guide. Each page includes building details, amenities, and what is nearby:

What to Do Next

If you are evaluating office space in Santa Monica, the most useful thing you can do is have a 15-minute conversation before you start touring buildings. Understanding your real budget, your must-haves, and your timeline saves a lot of time and gets you to the right space faster.

TenantRepLA represents tenants exclusively. There is never a fee to you. Nina Steiner handles the search, the analysis, and the negotiation so you walk into a lease knowing it reflects what is actually best for your business.

Call or reach out anytime:

  • Phone: (310) 487-2982
  • Website: tenantrepla.com
  • Email: nsteiner@saxumwest.com