BY JIM CARLTON
SANTA MONICA, Calif.—Office occupancy rates in this seaside city have soared in an otherwise lackluster Los Angeles market, fueled by an entertainment-industry expansion. The move is part of an uneven recovery in the property market benefiting certain pockets of cities and metropolitan areas.
Santa Monica’s office-vacancy rate fell to 11.5% in the fourth quarter, from 14.3% in the same period a year earlier, while vacancies for overall Los Angeles County remained at a recessionary peak of 17%, according to estimates by Grubb Ellis Co., a real-estate-brokerage firm based in Santa Ana, Calif.
Santa Monica’s vacancies peaked at 16.2% in …
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