Santa Monica’s second act

With new office leases from high-tech heavyweights and hip startups, the original “Silicon Beach” is once again soaking up the sun

TRD LOS ANGELES /
Jan.January 18, 2017 11:00 AM

From the January issue: Santa Monica is the third point of a golden triangle that also encompasses the trendy office markets of Hollywood and Playa Vista. But while the latter two neighborhoods have seen a particularly pronounced surge in popularity in recent years, market pros say that Santa Monica — once the darling of the first-generation tech industry — is finally getting its mojo back.

After a tough spell in the several years following the Great Recession — Yahoo!, for instance, migrated from Santa Monica to Playa Vista in 2015 — some startups are beating a path to Santa Monica. “All of a sudden, there’s a pretty good flow of new players,” said Carl Muhlstein, JLL’s regional director.

Aside from the obvious appeal of holding business lunches with an ocean view and team-building activities at the beach, factors such as improved public transportation, entertainment opportunities and new and renovated office space have boosted the area’s leasing activity, with a 30-percent year-over-year increase in leasing volume for Class A properties in 2016. [More]


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Adam Shekhter and the 1415 5th Street project

WS Communities boosts affordable housing plans in Santa Monica

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

arrow_forward_ios
Loading...