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Tesla Store in Santa Monica sells for a whopping $5,200 per sqft.

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Hundreds line up in front of the Tesla store in Santa Monica on March 31, 2016 to place a deposit for the Model 3

Model 3 reservation hopefuls that lined up on the day of Model 3 Mania in front of the manufacturer’s Santa Monica showroom are well acquainted with the tiny boutique-like space that bears the name to arguably one of the world’s most talked about brands – Tesla. Nestled amongst narrow two-story Art Deco buildings lies Tesla’s 3,000 square foot storefront on famed Third Street Promenade – a local hotspot for Los Angeleans and tourists alike.

The real estate purchased for $2.75 million, or $917 per square foot, in 2006 by Tigris Group, an entity registered in Pinecrest, Florida, was just sold for a whopping $15.6 million. That represents a near 570% gain with a single square foot priced at $5,200 for Tesla’s current landlord. The Real Deal reports that New York-based KLM Equities and Harlington Realty closed on the purchase of Tesla’s storefront late last month, according to a release from CBRE. According to CRBE’s Timothy Bower, there were multiple bids on the property due to popularity of the location which doesn’t often see real estate turnovers. Bower tells The Real Deal, “The real estate on the Third Street Promenade trades infrequently. When it does, it is in high demand. Sometimes these deals don’t even get to market. The moment we released this offering, we had a lot of interest in it.”

Tesla Showroom in Santa Monica [Source: Sharon VanderKaay | creative commons]

Tesla Showroom in Santa Monica [Source: Sharon VanderKaay | creative commons]

Though Tesla Motors will have a new landlord, the Silicon Valley automaker doesn’t have any plans on leaving and will keep its existing lease agreement, as is. In terms of a fallback plan for the real estate buyer, “It was an investment deal and as long as Tesla’s lease is in place, the property will be in its present form,” said Bower. “If they don’t stay, way down road, there is potential to redevelop. The evolution of the area is a two-story retail format, so that’s certainly a possibility in the future.”

The $5,200 per square foot price may seem exorbitant, but it’s not uncommon for storefronts lining the famed beachside attraction. Just a few doors down is Apple’s ubiquitous glass-front showroom which sold in 2014 to an affiliate of KLM for $100 million, or $5,700 a square foot.

By comparison, stores along the prestigious shopping streets in Beverly Hills demand almost four times as much. The Bijan store on Rodeo Drive recently sold for $122 million, or $19,405 a square foot.

KLM also owns the famed Chinese Theatre in Hollywood and various storefronts in nearby Venice.

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Elon Musk

Tesla CEO Elon Musk trolls budget airline after it refuses Starlink on its planes

“I really want to put a Ryan in charge of Ryan Air. It is your destiny,” Musk said.

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elon musk ryanair

Tesla CEO Elon Musk trolled budget airline Ryanair on his social media platform X this week following the company’s refusal to adopt Starlink internet on its planes.

Earlier this week, it was reported that Ryanair did not plan to install Starlink internet services on its planes due to its budgetary nature and short flight spans, which are commonly only an hour or so in total duration.

Initially, Musk said installing Starlink on the company’s planes would not impact cost or aerodynamics, but Ryanair responded on its X account, which is comical in nature, by stating that a propaganda it would not fall for was “Wi-Fi on planes.”

Musk responded by asking, “How much would it cost to buy you?” Then followed up with the idea of buying the company and replacing the CEO with someone named Ryan:

Polymarket now states that there is an 8 percent chance that Musk will purchase Ryanair, which would cost Musk roughly $36 billion, based on recent financial data of the public company.

Although the banter has certainly crossed a line, it does not seem as if there is any true reason to believe Musk would purchase the airline. More than anything, it seems like an exercise of who will go further.

Starlink passes 9 million active customers just weeks after hitting 8 million

However, it is worth noting that if something is important enough, Musk will get involved. He bought Twitter a few years ago and then turned it into X, but that issue was much larger than simple banter with a company that does not want to utilize one of the CEO’s products.

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In a poll posted yesterday by Musk, asking whether he should buy Ryanair and “restore Ryan as their rightful ruler.” 76.5 percent of respondents said he should, but others believe that the whole idea is just playful dialogue for now.

But it is not ideal to count Musk out, especially if things continue to move in the direction they have been.

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Tesla Robotaxi’s biggest rival sends latest statement with big expansion

The new expanded geofence now covers a broader region of Austin and its metropolitan areas, extended south to Manchaca and north beyond US-183.

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Credit: @AdanGuajardo/X

Tesla Robotaxi’s biggest rival sent its latest statement earlier this month by making a big expansion to its geofence, pushing the limits up by over 50 percent and nearing Tesla’s size.

Waymo announced earlier this month that it was expanding its geofence in Austin by slightly over 50 percent, now servicing an area of 140 square miles, over the previous 90 square miles that it has been operating in since July 2025.

Tesla CEO Elon Musk shades Waymo: ‘Never really had a chance’

The new expanded geofence now covers a broader region of Austin and its metropolitan areas, extended south to Manchaca and north beyond US-183.

These rides are fully driverless, which sets them apart from Tesla slightly. Tesla operates its Robotaxi program in Austin with a Safety Monitor in the passenger’s seat on local roads and in the driver’s seat for highway routes.

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It has also tested fully driverless Robotaxi services internally in recent weeks, hoping to remove Safety Monitors in the near future, after hoping to do so by the end of 2025.

Although Waymo’s geofence has expanded considerably, it still falls short of Tesla’s by roughly 31 square miles, as the company’s expansion back in late 2025 put it up to roughly 171 square miles.

There are several differences between the two operations apart from the size of the geofence and the fact that Waymo is able to operate autonomously.

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Waymo emphasizes mature, fully autonomous operations in a denser but smaller area, while Tesla focuses on more extensive coverage and fleet scaling potential, especially with the potential release of Cybercab and a recently reached milestone of 200 Robotaxis in its fleet across Austin and the Bay Area.

However, the two companies are striving to achieve the same goal, which is expanding the availability of driverless ride-sharing options across the United States, starting with large cities like Austin and the San Francisco Bay Area. Waymo also operates in other cities, like Las Vegas, Los Angeles, Orlando, Phoenix, and Atlanta, among others.

Tesla is working to expand to more cities as well, and is hoping to launch in Miami, Houston, Phoenix, Las Vegas, and Dallas.

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Tesla automotive will be forgotten, but not in a bad way: investor

It’s no secret that Tesla’s automotive division has been its shining star for some time. For years, analysts and investors have focused on the next big project or vehicle release, quarterly delivery frames, and progress in self-driving cars. These have been the big categories of focus, but that will all change soon.

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(Credit: Tesla)

Entrepreneur and Angel investor Jason Calacanis believes that Tesla will one day be only a shade of how it is recognized now, as its automotive side will essentially be forgotten, but not in a bad way.

It’s no secret that Tesla’s automotive division has been its shining star for some time. For years, analysts and investors have focused on the next big project or vehicle release, quarterly delivery frames, and progress in self-driving cars. These have been the big categories of focus, but that will all change soon.

I subscribed to Tesla Full Self-Driving after four free months: here’s why

Eventually, and even now, the focus has been on real-world AI and Robotics, both through the Full Self-Driving and autonomy projects that Tesla has been working on, as well as the Optimus program, which is what Calacanis believes will be the big disruptor of the company’s automotive division.

On the All-In podcast, Calcanis revealed he had visited Tesla’s Optimus lab earlier this month, where he was able to review the Optimus Gen 3 prototype and watch teams of engineers chip away at developing what CEO Elon Musk has said will be the big product that will drive the company even further into the next few decades.

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Calacanis said:

“Nobody will remember that Tesla ever made a car. They will only remember the Optimus.”

He added that Musk “is going to make a billion of those.”

Musk has stated this point himself, too. He at one point said that he predicted that “Optimus will be the biggest product of all-time by far. Nothing will even be close. I think it’ll be 10 times bigger than the next biggest product ever made.”

He has also indicated that he believes 80 percent of Tesla’s value will be Optimus.

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Optimus aims to totally revolutionize the way people live, and Musk has said that working will be optional due to its presence. Tesla’s hopes for Optimus truly show a crystal clear image of the future and what could be possible with humanoid robots and AI.

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