Wednesday, August 4, 2021

Downtown Retail Vacancies Set Record High

Retail exodus from State Street continues

Latest News

Making magic at Ventura’s Bank of Italy Cocktail Trust

Misty Orman and Brandon Ristaino are putting the “Italy” back into their new bar, the Bank of Italy Cocktail Trust. The bar is located...

Ventura Journal’s Guide for small businesses relief grants

For small businesses and restaurants within the Ventura County area, the California Small Business COVID-19 Relief Grant Program, Restaurant Revitalization Fund and the Shuttered...

Timbre Books to host first Indie Bookstore Day

Timbre Books in midtown Ventura is hosting it’s very first Indie Bookstore Day this Saturday, April 24th. The retailer, which opened in October of...

Your browser is blocking the Transact payments script

Transact.io respects your privacy, does not display advertisements, and does not sell your data.

To enable payment or login you will need to allow scripts from transact.io.

Vacant storefronts on State Street were already increasing when the Covid pandemic struck. Since then, many more stores in Santa Barbara have closed permanently. It’s unclear how long it will take, if ever, for all the spaces to get leased.

Rents were notoriously high on State Street, and even vacancy rates of 5% did not motivate landlords to reduce them. Now, with the fortunes of many business owners wiped out by the pandemic and resulting unemployment, it’s not certain that new retailers will fill those spaces, even with rents 10-20% lower. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Amet nisl purus in mollis nunc. Posuere lorem ipsum dolor sit amet consectetur adipiscing elit duis. Tortor at risus viverra adipiscing. Egestas fringilla phasellus faucibus scelerisque eleifend donec pretium vulputate sapien. In mollis nunc sed id semper risus in hendrerit. Adipiscing enim eu turpis egestas pretium aenean pharetra. 

You must subscribe or pay for this article to read or comment on it.

You must purchase this article or be a subscriber to comment on it.