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Third Street Promenade 1231 3rd Street Promenade
10,035 - 30,411 SF of 4-Star Retail Space Available in Santa Monica, CA 90401
Highlights
- 1231 3rd Street Promenade offers tenants more affordable rent for a prime retail storefront with modern aesthetics and endless possibilities.
- Versatile layout options accommodate various needs and configurations, including the use of the roof with sweeping ocean views.
- Take advantage of convenient access to 90 minutes of free public parking behind the building and plenty of nearby public lots.
- In the heart of Third Street Promenade, a bustling shopping and entertainment district with everything from farmers markets to designer fashion.
- Benefit from the constant pedestrian flow of over 319,000 people per day, attracting both locals and tourists from near and far.
Space Availability (3)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| Basement | 10,191 SF | 1-10 Years | Upon Request Upon Request Upon Request Upon Request Upon Request Upon Request | TBD | ||
| 1st Floor | 10,035 SF | 1-10 Years | Upon Request Upon Request Upon Request Upon Request Upon Request Upon Request | TBD | ||
| 2nd Floor | 10,185 SF | 1-10 Years | Upon Request Upon Request Upon Request Upon Request Upon Request Upon Request | TBD |
Basement
Ownership is willing to make a deal of a lifetime and work with tenants who are committed to reaching out, please contact the number on the listing. United El Segundo, Inc. looks forward to hearing from you.
- Fully Built-Out as Specialty Space
- Located in-line with other retail
- Space is in Excellent Condition
- Can be combined with additional space(s) for up to 30,411 SF of adjacent space
- Central Air Conditioning
- High Ceilings
- Exposed Ceiling
1st Floor
Ownership is willing to make a deal of a lifetime and work with tenants who are committed to reaching out, please contact the number on the listing. United El Segundo, Inc. looks forward to hearing from you.
- Fully Built-Out as Specialty Space
- Located in-line with other retail
- Can be combined with additional space(s) for up to 30,411 SF of adjacent space
- Central Air Conditioning
- High Ceilings
- Recessed Lighting
2nd Floor
Ownership is willing to make a deal of a lifetime and work with tenants who are committed to reaching out, please contact the number on the listing. United El Segundo, Inc. looks forward to hearing from you.
- Fully Built-Out as Specialty Space
- Space is in Excellent Condition
- Can be combined with additional space(s) for up to 30,411 SF of adjacent space
- Central Air Conditioning
- High Ceilings
- Recessed Lighting
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
TENANTS AT Third Street Promenade
- Tenant
- Description
- SIZE
- MOVE DATE
- US Locations
- Reach
- Burn Fitness
- Fitness
- 10,185 SF
- 05/2011
- 1
- Local
Burn Fitness Gym is located on the Third Street Promenade in Santa Monica. It is the perfect place to celebrate fitness, health and well-being. Their stunning two-floor facility spanning 20,000 square feet will inspire the athlete in everyone. Head up to their beautiful roof top which features RYDE4, their new indoor cycling studio, innovative group exercise programs, and gorgeous views of the Pacific. The main fitness floor presents a world-class range of cardio equipment fitted with theater monitors, a spacious free weight area and their group fitness studio. Other amenities include our clean locker rooms with showers, new saunas and complimentary towel service. Their number one goal at Burn Fitness is effectiveness! They’ve established a number of programs to help people get the results they want. As a member, people will have access to customized training, dynamic group classes, nutrition counseling, and complimentary access to their online weight management system.
| Tenant | Description | SIZE | MOVE DATE | US Locations | Reach |
| Burn Fitness | Fitness | 10,185 SF | 05/2011 | 1 | Local |
PROPERTY FACTS FOR 1231 3rd Street Promenade , Santa Monica, CA 90401
| Property Type | Retail | Total Land Area | 0.24 AC |
| Property Subtype | Storefront | Year Built/Renovated | 1962/2000 |
| Gross Leasable Area | 30,411 SF |
| Property Type | Retail |
| Property Subtype | Storefront |
| Gross Leasable Area | 30,411 SF |
| Total Land Area | 0.24 AC |
| Year Built/Renovated | 1962/2000 |
About the Property
1231 3rd Street Promenade is a premier retail property that offers an exceptional opportunity for businesses looking to thrive in one of Santa Monica’s most vibrant and high-traffic areas. Acquired at a competitive price, the building’s cost-efficiency enables the owner to provide more affordable rental rates, making this prime location accessible to a wide range of retailers. The property's modern design features sleek interiors and a versatile layout, allowing for flexible configurations to suit various business needs. Tenants will benefit from the building's strategic positioning amid a bustling shopping district that attracts both locals and tourists, ensuring high foot traffic daily. The surrounding area boasts a wealth of amenities that enhance the appeal of this retail space. As Santa Monica's dynamic shopping and pedestrian mall, Third Street Promenade is renowned for its lively atmosphere, with a rich mix of popular stores, trendy boutiques, gourmet dining options, and entertainment venues. This dynamic environment not only draws shoppers but also creates a vibrant community feel that enhances the customer experience. Additionally, ample nearby parking structures provide convenient access for tenants and their customers, alleviating the common issue of urban parking challenges. The proximity to major attractions such as the Santa Monica Pier and the beach further adds to the location’s desirability, ensuring a steady influx of visitors year-round. This combination of prime, affordable property in a thriving area makes 1231 3rd Street Promenade an ideal choice for businesses aiming to establish a strong presence in a sought-after retail corridor.
Marketing Brochure
DEMOGRAPHICS
Demographics
About Santa Monica
Santa Monica is an affluent city in Greater Los Angeles. With a stunning coastline, some of the best sunsets in Southern California, and a dynamic downtown, it is a very attractive location to live, shop, work, and relax. Santa Monica is known as a walkable and bike-friendly town, with 22 miles of bike paths. It is home to a myriad of retail options, from boutiques to major national retailers, and is one of the premier restaurant hubs in Greater Los Angeles.
As a result of these attributes, it is also a major tourist magnet, with more than 7 million tourists visiting each year to see such destinations as the Third Street Promenade in Downtown Santa Monica, the Santa Monica Pier, and much more. Numerous luxury hotels attract affluent visitors.
Although the area possesses many positive attributes, the retail market has suffered more in recent years than many other locations in Greater Los Angeles have. Vacancy has almost doubled since early 2020. The Third Street Promenade, the anchor of the retail market, has witnessed numerous store closures in recent years.
The city has an enviable economy. The city is the center of Silicon Beach, having high concentration of technology firms and startups in the area. Videogame maker Activision, streaming service Hulu, social media app developer Snap Inc., and the renowned RAND Corporation all call Santa Monica Home. Media firms are well represented, as well as some of the leading business and professional services firms. Locating in Santa Monica is seen by many employers as a recruiting tool to attract top-tier talent. Incomes in the city are strong.
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Greek Cuisine | - | $$ | 1 min walk |
| Gyu-Kaku Japanese BBQ | Japanese | $$ | 3 min walk |
| Nick The Greek | Mediterranean | $$$ | 3 min walk |
| The Coffee Bean & Tea Leaf | - | - | 3 min walk |
| Blu Jam Cafe | Cafe | $$$ | 3 min walk |
| Chipotle | - | - | 3 min walk |
| California Pizza Kitchen | - | - | 4 min walk |
| Burger Lounge | - | - | 3 min walk |
| Hillstone Restaurant | American | - | 4 min walk |
| Bibibop Asian Grill | - | - | 5 min walk |
Retail |
||
|---|---|---|
| Pink | Ladies' Apparel | 3 min walk |
| H&M | Unisex Apparel | 3 min walk |
| Sephora | Health & Beauty Aids | 3 min walk |
| T.J. Maxx | Other Retail | 2 min walk |
| Paper Source | Art/Crafts | 2 min walk |
| Abercrombie & Fitch | Unisex Apparel | 3 min walk |
| AMC | Cinema | 3 min walk |
| Adidas | Shoes | 3 min walk |
| Barnes & Noble | Books | 4 min walk |
| Madewell | Other Retail | 3 min walk |
Hotels |
|
|---|---|
| Courtyard |
136 rooms
2 min drive
|
| Hilton |
286 rooms
3 min drive
|
| Autograph Collection |
175 rooms
3 min drive
|
Leasing Teams
Leasing Teams
Brandon Cohan,
Founder
A Los Angeles native, a University of Southern California Marshall School of Business alumni, & a 10 year veteran in the industry has excelled Brandon Cohan’s ties to tenants in luxury fashion brands and the hottest restaurants. Spanning a system of landlords from Malibu to Beverly Hills & West Hollywood to the Arts District of Downtown LA, allows for tenants to view an entire portfolio of locations within a single platform.
He exclusively represents Alfred Coffee & Kreation Juicery, the two most popular tenants in the retail world. Establishing Alfred Coffee in Rick Caruso’s Palisades Village & most recently on Abbot Kinney Blvd. Pioneering Kreation Juicery from their first, to their most recent 20th location on Melrose Avenue in West Hollywood.
Brandon Cohan has quickly emerged as the leading landlord representative of the LA Market. With an extraordinary marketing campaign & incredible work ethic, the media has highly publicized Brandon’s influence on the retail scene for his involvement in prominent sales & groundbreaking leasing transactions.
Brandon Zarrabi, Vice President
Brandon earned a B.A. in Interdisciplinary Studies from the University of California, Berkeley. His major allowed him to take a plethora of classes from different majors, such as Philosophy, Psychology, and Business, thus giving him having a well-rounded understanding of the business. After graduating, Brandon began work as a paralegal and moved to New York for some time. Brandon then decided to pursue his true passion, Commercial Real Estate, and moved back to Los Angeles.
Brandon is a native in English and Farsi. In his free time, he likes to read books, listen to music, and work on his culinary page on Instagram. Brandon’s love for food has taken him to all parts of the world and he has created a vast network in the world of dining. Brandon’s unique background and passion for the industry allows him to provide promising results for his clientele alongside his commitment to golden service.
About the Owner
-
United El Segundo, Inc. Jeff Appel -
Power Broker
Brandon Cohan
-
Brandon Zarrabi
- United El Segundo, Inc.
Presented by
United El Segundo, Inc.
Third Street Promenade | 1231 3rd Street Promenade
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