Beachside Retail Properties in L.A. Struggle to Draw Demand

Cold weather and rainy days have tortured Angelenos lately, and that distressing sentiment is echoed by many owners of beachside retail properties from Malibu to Long Beach. While consumer spending continues to favor services, such as dining, entertainment, and leisure across the nation, fewer restaurants and stores are opening along Los Angeles’ beaches. More than 1 million square feet of retail space within a half mile of the beach is vacant in the Los Angeles metropolitan area, carrying a 9.1 percent vacancy rate compared to 7.8 percent a year ago and 3.2 percent in the first quarter of 2017.