Santa Monica

Santa Monica at a glance
1.8M SFof office space

Santa Monica Visitors

The Metro Expo Line connects Santa Monica by rail to Downtown LA, Pasadena, San Fernando Valley, South Bay, Long Beach and dozens of points in between. Seven new stations were completed in 2016, serving diverse LA neighborhoods such as Century City, West Los Angeles, and Santa Monica, the Metro Rail System now connects to 87 stations and over 93 miles of rail to destinations across Los Angeles County.

Santa Monica Accessibility

Santa Monica, one of Los Angeles’ prime retail markets, continues to thrive as a popular beachfront neighborhood for residents, workers and tourists alike. Located just below multiple state parks and stretching 3.5 miles along the Pacific coastline, Santa Monica, home to Third Street Promenade, Santa Monica Place, Santa Monica Pier and its carnival attractions, and the 10-block shopping district of Montana Ave, is not surprisingly one of the top tourist destinations within Los Angeles County. Santa Monica balances an exciting urban environment with recreational offerings like hiking in the Topanga Canyon trails or surfing in the Pacific.

Consistently one of the highest performing streets in Los Angeles County in terms of number of sales and transactions, Third Street Promenade cannot be ignored as a major economic driver for Santa Monica and the overall Los Angeles region by drawing crowds to its premier pedestrian paseo. After its redevelopment in the 1980s, Third Street Promenade has transformed Downtown Santa Monica
and has become the heart of activity within the city.

Santa Monica Residents

Residents are predominantly single, well-educated professionals in business, finance, legal, computer, and entertainment occupations. They are affluent and partial to city-living and its amenities. Many residents walk, bike, or use public transportation to get to work; a number work from home. Although single householders and roommates technically outnumber couples, this market includes a higher proportion of partner households, including the highest proportion of same-sex couples.

Residents are well-educated; they are more interested in the stock market than the housing market. These residents are cosmopolitan and connected technologically savvy consumers who value both education and creativity. Their income is above the US average, but they spend a large portion of their wages
on rent, clothes, and the latest technology. They are active and health conscious, exercising regularly and paying attention to their nutrition. Environmentally conscientious but also image-conscious, both impact their purchasing.

Market Overview

Santa Monica Workforce
29,214 total employees

Santa Monica currently holds the title for highest asking rents per square foot across the Los Angeles office sector, bringing stampedes of bright and savvy professionals into the city every day. Nationwide, Los Angeles ranks third in the country in terms of total inventory occupied by co-working companies. Co-working operators account for almost 2.8 million square feet of office space in the Los Angeles metro market. While co-working operations can be found across the metro area, over 1.2 million square feet is
located within the tech-heavy and venture-capital rich Westside submarket, including Santa Monica.