Originally founded in 1905 as a beach resort, Venice, Los Angeles, used to be called the “Venice of America” in a nod to the famous northern Italian city. Venice existed as an independent city until 1926 but has since become an incorporated part of LA’s Westside region. Venice is best known for its beach, the iconic Venice Beach Boardwalk, and its canals. The Venice Beach Boardwalk, also called the Ocean Front Walk, is the second-most visited place in Southern California, drawing in more than 10 million visitors each year and around 30,000 visitors per day.
Venice Office Space – Lease Data & Trends
Throughout Q1 of 2020, leasing activity across Los Angeles plateaued, while available subleases continued to rise. However, a few sizable leases were signed. The market does appear to be recovering, with reports of an expected increase in smaller tenant leasing activity. In Los Angeles West, one of the names for the region where Venice lies, leasing activity rose throughout Q1 of 2021. Roku signed the region’s largest transaction of the quarter, relocating to a 58,403 square foot space at Colorado Center in Santa Monica. Q1 2021 became the fourth quarter of consecutive occupancy losses in LA West.
Venice, Los Angeles, is part of the Westside (another name for Los Angeles West) submarket, which contains 55.7 million square feet of total commercial real estate inventory. Overall, 14.7% of office spaces are vacant and available to new renters. Office space seekers can expect to pay around $5.20 per square foot per month. While most cities post office rental properties’ prices by square foot per year, Westside’s listings are expressed by square foot per month. Most of Westside’s office inventory is Class A. On average, it rents for $4.3/square foot. Plenty of Class B property is available, too. It is slightly cheaper to lease, averaging $4.24/square foot.
What Our Brokers Say about Venice Office Space
Though Venice does offer plenty of traditional office space, be aware that commercial space seekers will also be able to choose from plenty of coworking, per-desk, and short-term lease options. Venice has a thriving small business community and the office options to go with it.
Local employees will benefit from many local conveniences, specifically with respect to transportation. Venice is the 17th most walkable Los Angeles neighborhood, with a Walk Score of 83. It also has good public transportation and a bike score of 85. Buses are one of the most popular forms of public transportation in Venice. Commuters can choose from the Metro, the Green Culver City Bus, and the Big Blue Bus. To get a pre-paid Big Blue Bus card, go to the Venice Library. Venice is about a 25-minute drive (by car) or a one-hour trip (by public transportation) from Downtown Los Angeles.
Top Commercial Buildings in Venice
Ready to look at some office buildings in Venice, LA? Our brokers suggest reading about the following commercial real estate rental options in the neighborhood:
701 Ocean Front Walk: Want to work right on Venice’s famed Ocean Front Walk and stare at the beach as you type emails? Take a look at this 33-story office building that was built in 2003. It is part of the Thornton Lofts complex. Currently available suites in this office building range from 3,353-4718 square feet in size. Contact a SquareFoot broker for pricing details for 701 Ocean Front Walk.
900 Pacific Avenue: 900 Pacific Avenue is a Venice office building located just a few blocks from the Pacific Ocean. Enjoy easy access to the neighborhood’s best attractions and restaurants, high-speed internet, and lots of open desk space. 900 Pacific Avenue offers sublease and virtual office options in addition to traditional leasing options. Currently, a 900-square foot unit is available for lease on the third floor, and a 1,000-square foot unit is available on the 1st floor.
1627-1639 Electric Avenue: 1627-1639 Electric Avenue is a four-building creative complex that offers 20,984 square feet of total commercial real estate space. The complex is located near Abbot Kinney, which GQ Magazine called “The Coolest Block in America.” Right now, all five spaces that are available to lease there are 1,100 square feet in size.
Get to Know Venice
Marine Court and Dewey Street border Venice to the north; then the neighborhood extends from the Pacific Ocean toward Walgrove Avenue and Beethoven Street. Nearby neighborhoods include Palms, Mar Vista, Del Rey, and Culver City. The Venice Neighborhood Council has identified eight neighborhoods within Venice: Silver Strand, Oxford Triangle, Marina Peninsula, Silver Triangle, North Venice, South Venice, Presidents Row, Venice Canals, Oakwood, North OFW, NoRo (North of Rose Avenue), and Penmar.
Venice Beach, both a global tourist destination and a cultural hub, offers paddle tennis courts, a skate dancing plaza, and beach volleyball courts. Venice Beach will host Olympic disciplines skateboarding and 3×3 basketball during the 2028 Summer Olympics.
Venice has only one local news source, the Venice Current. The dedicated staff covers the happenings specific to Venice.
Why rent office space in Venice, Los Angeles?
Venice offers the best of LA’s glamor. Work hard in the office, walk a few steps, then play hard on the beach. Some office buildings in Venice even come equipped with showers that were installed just so employees could step off the beach, rinse off the sand, and go straight to work. Venice office space renters have a unique opportunity to experience work-life balance in an incredible way.
Nearby neighborhoods to set up office space
If you like Venice and want to consider office space in neighboring areas, here are a few office markets you may want to check out:
Culver City: Culver City, a Los Angeles suburb located near Venice, contains several neighborhoods, including Culver Crest, Veterans Park, and Fox Hills. Culver City is an important center for television production. National Public Radio West, Sony Pictures Entertainment, Apple, Beats Audio, Maker Studio, and NFL Network all operate here.
Marina Del Rey: Marina del Rey is a coastal community located within the Westside region of Los Angeles—though it’s not considered part of the city. Marina Del Rey is the nation’s biggest man-made, small-craft harbor. High-rise condos, six hotels, sea view restaurants, and trendy boutiques surround the marina. Tourism; health care and social assistance; information; and retail trade are all important industries in Marina Del Rey.
Beverly Hills: Beverly Hills boldly claims to be the luxury capital of the world, housing some of the world’s most expensive real estate and some of the most well-known celebrities. This Los Angeles neighborhood is full of private firms, cosmetic services, five-star hotels, and high-end shopping opportunities. Live Nation Entertainment and Metro-Goldwyn Mayer operate here. Though Beverly Hills seems to scream “big business,” small businesses thrive here, too—80% of the neighborhood’s businesses are considered small businesses. Commercial real estate leasing prices in Beverly Hills are some of the highest in Los Angeles.
If you would like more information on Venice or Westside office space, contact us. We can help you efficiently approach your search to find the best options and choose the right fit for your business.