Santa Monica’s second act

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
California Business Roundtable's Rob Lapsley and Santa Monica
Business group challenges Santa Monica’s transfer tax
Business group challenges Santa Monica’s transfer tax
TGS Management's Fred Taylor and FivePoint's Daniel Hedigan
TGS Management pays $240M to buy 42 acres for Irvine data hub
TGS Management pays $240M to buy 42 acres for Irvine data hub
Susan Phillips, a professor of environmental analysis and director of Pitzer College’s Robert Redford Conservancy for Southern California Sustainability and San Bernardino County Supervisor Curt Hagman with warehouses in San Bernardino county
IE warehouse boom generates call for building moratorium
IE warehouse boom generates call for building moratorium
Oaktree’s  Howard Marks with 444 S. Flower Street (Oaktree, Getty)
Coretrust loses DTLA tower to Oaktree in foreclosure
Coretrust loses DTLA tower to Oaktree in foreclosure
Tova Capital's Zach Boren along with 205-233 East Anaheim Street in Long Beach (Getty, Tova Capital, Google Maps)
Tova Capital buys 35K sf shopping center in Long Beach for $6.2M
Tova Capital buys 35K sf shopping center in Long Beach for $6.2M
HFH's William Allen, 217 S Barranca Street, West Covina
Family office pays $38M for West Covina apartments
Family office pays $38M for West Covina apartments
Compass' Scott Tamkin with Senderos Canyon
263-acre Bel-Air canyon up for auction with $39M starting bid
263-acre Bel-Air canyon up for auction with $39M starting bid
RBM's Hiro Kobayashi with 11264 La Grange Avenue
RBM buys film company HQ in Sawtelle for undisclosed price
RBM buys film company HQ in Sawtelle for undisclosed price
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...