Santa Monica has fallen behind its neighboring cities: more than 11% of its commercial space is vacant
World1 source1 country🔦 Under-reported4m ago
Santa Monica has fallen behind neighboring cities regarding commercial real estate, with more than 11 percent of its retail space currently vacant. This vacancy rate exceeds those recorded in Beverly Hills, Culver City, and West Hollywood.
A study conducted by the RAND Corporation concluded that Santa Monica was already struggling with underlying issues prior to the onset of the pandemic.
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