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1401-1409 3rd Street Promenade
562 - 2,119 SF of 4-Star Retail Space Available in Santa Monica, CA 90401
Highlights
- 1401-1409 3rd Street Promenade is an opportunity to lease prominent retail and food and beverage (F&B) space ranging from 562 to 2,119 square feet.
- Move-in-ready F&B establishments encompass a venting shaft and restaurant infrastructure.
- Vibrant Santa Monica destination with trendy shops, dining, entertainment, and year-round foot traffic, creating an unmatched urban experience.
- Capitalize on exceptional visibility and heavy foot traffic, this is the only property with 50-foot depths and over 40 feet of frontage.
- Premier corner on the best block of the 3rd Street Promenade, adjacent to an Apple flagship location and a new Raising Cane's.
Space Availability (3)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor, Ste 1403 | 788 SF | 5-10 Years | Upon Request Upon Request Upon Request Upon Request | Triple Net (NNN) | ||
| 1st Floor, Ste 1405 | 562 SF | 5-10 Years | Upon Request Upon Request Upon Request Upon Request | Triple Net (NNN) | ||
| 1st Floor, Ste 1407 | 769 SF | 5-10 Years | Upon Request Upon Request Upon Request Upon Request | Triple Net (NNN) |
1st Floor, Ste 1403
The rent is available upon request. The NNN charges are approximately $9.00 per square foot per annum. Retail space with 15-to-65 feet of frontage on 3rd Street Promenade.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Restaurant or Café Space
- Located in-line with other retail
- Can be combined with additional space(s) for up to 2,119 SF of adjacent space
- Grandfathered for fast food restaurant use
1st Floor, Ste 1405
The rent is available upon request. The NNN charges are approximately $9.00 per square foot per annum. Retail space with 15 to 65 feet of frontage on 3rd Street Promenade.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Restaurant or Café Space
- Located in-line with other retail
- Can be combined with additional space(s) for up to 2,119 SF of adjacent space
- 2nd generation restaurant infrastructure already
1st Floor, Ste 1407
The rent is available upon request. The NNN charges are approximately $9.00 per square foot per annum. Retail space with 15 to 65 feet of frontage on 3rd Street Promenade.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as Standard Retail Space
- Located in-line with other retail
- Can be combined with additional space(s) for up to 2,119 SF of adjacent space
- First-time on the market in over a decade
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.
PROPERTY FACTS FOR 1401-1409 3rd Street Promenade , Santa Monica, CA 90401
| Property Type | Retail | Gross Leasable Area | 14,300 SF |
| Property Subtype | Storefront Retail/Office | Year Built | 1928 |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Office |
| Gross Leasable Area | 14,300 SF |
| Year Built | 1928 |
About the Property
Embark an exceptional leasing opportunity at 1401-1409 3rd Street Promenade, located on the premier corner of the district’s most coveted block. This property features multiple retail and food and beverage (F&B) availabilities ranging from 562 to 2,119 square feet. Potential for restaurant infrastructure with venting shafts is possible in some units. Available immediately, this is a retailer’s chance to establish a presence in the heart of one of Southern California’s most vibrant commercial corridors. Positioned adjacent to the upcoming Raising Cane’s and the iconic Apple flagship store, this site is strategically situated to capture high foot traffic. The captivating building boasts rare 50-foot depths and 40 feet of available frontage along the 3rd Street Promenade, maximizing visibility and functionality. With easy access to over 4,000 public parking spaces in nearby structures, tenants and visitors are encouraged to delight in the surrounding dynamic mix of shopping, dining, and entertainment destinations. Downtown Santa Monica is the epicenter of world-class shopping, dining, and entertainment. The Promenade hosts the Santa Monica Farmers Market twice weekly, featuring premium organic ingredients frequented by over 1 million customers annually, including LA's top chefs and restaurants. The City of Santa Monica, in partnership with local stakeholders, is re-imagining the Promenade to cater to the next evolution of retailers and restaurants. The immediate trade area has over 15 million visitors, spending over $2 billion annually in hospitality.
- Signage
- Air Conditioning
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 |
|||
|---|---|---|---|
| Blue Bottle Coffee | Cafe | $ | 2 min walk |
| Trejos Tacos | Mexican | $ | 1 min walk |
| The Britannia | Pub Food | $$ | 1 min walk |
| Trastevere-Santa Monica | Italian | $$ | 1 min walk |
| Starbucks | Cafe | $ | 1 min walk |
| Barney's Beanery Santa Monica | American | $$ | 1 min walk |
| Everytable | Soul Food | - | 3 min walk |
| Paperboy | Salad | - | 3 min walk |
| Sweetgreen | American | $ | 2 min walk |
| Yogurtland | Frozen Yogurt | - | 2 min walk |
Retail |
||
|---|---|---|
| Anthropologie | Ladies' Apparel | 1 min walk |
| Patagonia | Sporting Goods | 2 min walk |
| Apple Store | Consumer Electronics | 2 min walk |
| West Elm | Furniture/Mattress | 3 min walk |
| H&M | Unisex Apparel | 2 min walk |
| ALDO | Shoes | 3 min walk |
| Pottery Barn | Home Accessories | 2 min walk |
| Abercrombie & Fitch | Unisex Apparel | 2 min walk |
| Barnes & Noble | Books | 3 min walk |
Hotels |
|
|---|---|
| Courtyard |
136 rooms
2 min drive
|
| Hilton |
286 rooms
3 min drive
|
| Autograph Collection |
175 rooms
3 min drive
|
| Hyatt Centric |
315 rooms
4 min drive
|
Leasing Teams
Leasing Teams
Ryan Hawley,
Vice President, Retail Brokerage
Matthew Fainchtein
Matthew has played an instrumental role in transforming the retail landscape in many neighborhoods of Los Angeles. He has been known to pioneer new retail areas such as the Arts District, Abbot Kinney and Silver Lake as well as reinvigorating neighborhoods like Robertson & Beverly Boulevards in West Hollywood and North Beverly Drive in Beverly Hills.
In addition, Matthew represents an impressive list of landlord clients throughout Los Angeles.
He has also been instrumental in the sale of trophy properties. Most recently he sold Studio City Place (110,000 sf shopping center) for $42 million. In 2022 he was responsible for the sale of 2.83 acres of unentitled land in Marina Del Rey for a record price of $37 million ($300.00 psf).
Currently Matthew has secured leases with Sushi Samba's rooftop flagship in West Hollywood, and Todd Snyder on Abbot Kinney and at The Grove. He has also been instrumental in revitalizing the 3rd street Promenade most recently with his lease to Raising Cane's. Over the last few years, he has secured leases for Erewhon and Sweetgreens in the Beverly Hills “Golden Triangle” as well as Tesla and Blue Bottle in Malibu and Planta in Marina Del Rey along with multiple locations for Sugarfish and Hot 8 Yoga.
His success is attributed to his consistent collaborations with some of LA’s largest property owners and developers in helping them develop and execute their vision with success.
LANDLORD EXPERIENCE:
- Lincoln Property Company
- CIM
- Equity Office / Blackstone
- Robertson Properties
- Madison Marquette
- JH Snyder Company
- Dynamic Development
- Kilroy Realty
- Regency Centers
- The Georgetown Company
- Lowe Enterprises
- City of Beverly Hills
- Morgan Stanley
- Faring Capital
- J.P. Morgan Asset Management
TENANT EXPERIENCE
- Todd Snyder
- Untuckit
- Hot 8 Yoga
- Trunk Club (division of Nordstrom)
- Bathing Ape (BAPE)
- Versace
- PK Market, Bristol Farms & Lazy Acres (division of eMart)
- Innisfree
- Kering S.A (Gucci, Saint Laurent, Brioni, Balenciaga, and Bottega Veneta
- SuitSupply
- Maple & Ash/Etta
- Barry’s Bootcamp
- Sprout Group (Bestia, Republique, The Rose Venice)
- Sugarfish Group (Sugarfish, Matu, Kazunori, HiHo & Uovo)
- Luminaire & Poltrona Frau
- Champion (division of Hanes Brand)
Casper
Devin Klein, Vice President
Devin has over twelve years of leadership experience in acquisitions, high-end real estate development, design, property management, leasing and sales. In 2010, Devin formed a strategic partnership with Houman Mahboubi wherein Devin helped create one of the most successful luxury retail leasing and sales brands in Los Angeles. His tremendous experience in residential and high street retail gives him the capability to get in the trenches with Developers and Landlords alike to identify the best programming for their mixed use projects.
Natalie V. Wagner, CCIM,
Executive Vice President
Natalie’s partial list of investment and retail clients includes The Kroenke Group, Regency Centers, Paynter Realty & Investments, The Towbes Group, Cadence Capital, Ross, Sprouts, Petco, and Sweetgreen.
Dennis Borowsky, Senior Vice President
Prior to joining Merlone Geier, from 2008 to 2012, Mr. Borowsky was the Senior Director of Leasing for the Irvine Company responsible for the strategic merchandising and leasing for a portfolio of centers in Southern California, including The Market Place in Tustin and Irvine, one of Orange County’s premier shopping centers. From 2004 to 2008, Mr. Borowsky was a Director of Leasing with Westrust responsible for the leasing and marketing of new development projects. From 1984 to 2004, Mr. Borowsky held several new development leasing and marketing positions in Southern California, including Vice President from 1987 to 1999 with the Donahue Schriber Realty Group, where he was also responsible for project and special use entitlements for new development projects.
Mr. Borowsky graduated from California State University, Northridge with an undergraduate degree in Business Administration and Marketing. Mr. Borowsky is an active participant in the International Council of Shopping Centers where he earned the Certified Retail Property Executive and Certified Leasing Specialist certifications. He is also a licensed salesperson. He is resident in the firm’s Orange County office.
Contacts
-
Ryan Hawley
-
Matthew Fainchtein
-
Devin Klein
-
Natalie V. Wagner, CCIM
-
Dennis Borowsky
-
JLL
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1401-1409 3rd Street Promenade
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