In response to the massive destruction caused by January's wildfire, several schools from the Pacific Palisades area are relocating to Santa Monica office properties. This move addresses the needs of thousands of K-12 students while simultaneously reviving the struggling office leasing market, which has been heavily impacted by the COVID-19 pandemic. Companies like BXP have adapted creatively to accommodate these new educational tenants, contrasting with other landlords facing high vacancy rates.
"It wasn't on my bingo card this year to be doing school leases, but here I am - and you roll with the times," said Alex Cameron, Los Angeles regional director at BXP.
"Thousands of K-12 students will inhabit more than 200,000 square feet of space, positioning schools as an unexpected boost to Santa Monica's office leasing market," stated the article.
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