Three ADJACENT properties in downtown Livermore have experienced turnover in the last month. Cravings Pizza is now Cloud 9 Pizza (open soon), Bath Shoppe at 2080 1st Street moved out unexpectedly, and the new Tenant of the former Double Barrell is yet to be open for business one year later. With more and more small retailers going out of business, I have to ask….is the market rent sustainable for small businesses?
My opinion: NO! $3.00/ SF plus NNN is not sustainable for a startup, mom and pop, or local business looking to expand.
How do you feel about your favorite local spots closing up shop? Please comment below.