Officials Celebrate Promenade's Renaissance With Barnes & Noble Return

SANTA MONICA, CA — After a five-year hiatus spurred on by COVID-19 pandemic complications, Barnes & Noble Booksellers is reopening on the Third Street Promenade.

The return of the bookstore is one of many other noteworthy new businesses opening at the Promenade including indoor pickleball venue Pickle Pop and fitness brand John Reed. Officials at Downtown Santa Monica Inc. said the presence of these new and returning businesses marks a pivotal moment in the revitalization of the Promenade and will herald in a new era of growth and transformation.

"The departure of Barnes & Noble in 2018, coupled with the impacts of the pandemic, mirrored the challenges faced by many retail centers worldwide in the wake of shifting consumer demand and the pandemic’s economic repercussions," said CEO of DTSM, Inc., Andrew Thomas. "Its return is a signal to our community that the essence of Third Street remains viable and inviting as ever."

In the past year, more than 30 new businesses have opened in Downtown Santa Monica and officials are calling it the Promenade's renaissance. In addition to new permanent businesses, the Promenade has continued to evolve with experimental offerings such as pop-up stores including the World of Barbie, BTS Exhibition Proof and Teenage Mutant Ninja Turtle: Mutant Mayhem Experience.

Retail isn't the only area that is experiencing growth, officials said. New dining experiences include Ugo Trattoria and HQ Gastropub add additional options for visitors of the popular shopping area.

"We're entering a new chapter where a diverse array of businesses across fitness, retail and hospitality, converge to reinvigorate this iconic street in a way that not only honors its past but propels it into a remarkable future," Thomas said.

According to recent data from DTSM Inc., there is a ground-level occupancy rate of 77.6 percent at the Promenade currently, which is up 10 percent from 2021.

The district has undergone many recent improvements such as zoning changes, including the anticipated creation of an arts and entertainment district, the expansion of alcohol permits and the enabling of commercial use for outdoor rooftop spaces.

"These transformative measures, along with ongoing initiatives, position the Promenade for success in a rapidly evolving retail landscape. As the Promenade awaits the return of Barnes & Noble, it is evident that the future of the Third Street Promenade is one of evolution and revival," DTSM Inc. said.