Ocean Avenue ranks number seven on the list of the most expensive office streets in the country, according to a new survey from JLL. Streets in San Francisco and New York fill the top two positions on the list, and Los Angeles has only one street on the list of the top 50 most expensive streets. Office tenants pay a 95.9% premium to rent space on Ocean Avenue. To find out more about this submarket in Los Angeles, we sat down with Josh Wrobel, a managing director at JLL, for an exclusive interview.

GlobeSt.com: What characteristics make Ocean Avenue one of the most expensive office markets in the US?

Josh Wrobel: First, you start with the fact that Santa Monica is one of the most desirable neighborhoods (from both a residential and office perspective) in the world. The combination of climate, beach lifestyle, access to executive housing, local amenities, public transportation and the collection of some of the area's most influential companies separates Santa Monica from most of the other Los Angeles Basin submarkets. Within Santa Monica, downtown Santa Monica's collection of jewel box buildings and access to the 3rd Street Promenade amenities draws an equally exclusive list of tenants that want to be even closer to the ocean. Finally, you go even one step further when you look at a select few Ocean Avenue buildings that have some of the only “wave breaking” ocean views in all of Los Angeles. The experience of some of the Ocean Avenue views is amazing and in a city that is built on entertainment and experiences, those views create a bidding war for the best spaces in the Basin.