Santa Monica Real Estate Market Update

Santa Monica Real Estate Market Update

Market Update Hannah.jpg

by Hannah McCarthy

Santa Monica Update

We have another market update for Santa Monica Commercial Real Estate - Santa Monica retail stores continue to be strong with low cap rates and average prices/sf above $1,150.

Rent growth is at 1.5% with only 15,000 sf of new retail #construction to be delivered in the next 4 quarters. The Third Street Promenade, a once happening retail destination has seen better days and the city is considering an overhaul. In the end, there is only so much land to build out on but thankfully, even if there is a recession, places like Santa Monica will not be hit as hard due to scarcity.

That’s it for this week and stay tuned for more market updates in the near future.

To see our past market updates and contact Hannah McCarthy @hannahmccarthy_cre or contact our team for any other needs you may have.


Established in 2006, we’ve worked for over a decade in Commercial Real Estate.
We’re committed to creating and maintaining successful relationships with our clients.

Interested in Investing, Selling, or Leasing Commercial Real Estate in Los Angeles?

Contact Commercial Brokers International. We'll Put You In Touch With The Best Agent for Your Needs.

What Should I Look for When Hiring a Commercial Real Estate Attorney

What Should I Look for When Hiring a Commercial Real Estate Attorney

How Much Office Space Do I Need in 2019?

How Much Office Space Do I Need in 2019?