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Leasing overview: Pier Plaza 89% leased, Beach Life festival shows visitor gains but tenant effects vary
Summary
The King Harbor Commission received a leasing overview showing Pier Plaza is about 89% leased with roughly 7,000 sq ft of office availability and ~36,937 sq ft technically available systemwide; Placer AI data showed Beach Life Festival produced large visitation spikes in 2025 with mixed tenant impacts.
Brian Campbell, the city's leasing agent, presented a quarterly leasing overview to the King Harbor Commission on Jan. 12, summarizing vacancy, rent and visitation data for Pier Plaza, International Boardwalk and other harbor assets.
Campbell opened the briefing with a regional view: Southern California has experienced progressive negative net absorption since the COVID downturn and rents are forecast to remain weak through 2026 before a gradual recovery in 2028'2029. "Southern California is losing tenants," he said, adding the Los Angeles area has been among the weakest markets. He emphasized that these macro trends frame local leasing work.
Locally, Campbell told commissioners that harbor retail pockets (Fisherman's Wharf, International Boardwalk and several waterfront businesses) are currently fully leased while office space at Pier Plaza is the primary area of vacancy.…
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