The mall's tenant mix is predominantly upscale, featuring Tiffany & Co., Louis Vuitton, Tory Burch, Elie Tahari, and AllSaints.

Macerich purchased Santa Monica Place from Rouse in 1999, and rumors of major changes to the then-flailing shopping center were reported.

[7] The plan met with strong opposition from local residents who felt the project did not meet the low-rise character of the neighborhood and would worsen traffic.

[9] The $265 million project[10] removed the mall's roof and gutted the interior, replacing it with two levels of retail shops and a third-level food court.

[16] On April 12, 2021, ArcLight Cinemas, located atop the Bloomingdale's anchor store, and temporarily shuttered since March 17, 2020 due to the ongoing COVID-19 pandemic, had its lease terminated for non-payment of rent.

Macerich, the mall development corporation, announced that the remaining space in the structure would possibly house a high-end fitness facility.