News

Congratulations to our President Pamela Scott for selling 3130 E. Thousand Oaks Blvd. listed at $4,000,000!

GPS Retail Newsletter

First Quarter 2018

Santa Barbara

  • Bluewater Grill has opened near the Santa Barbara wharf.
  • Grilled Cheese Truck has moved into Isla Vista. It is located on Embarcadero del Norte where Santa Ynez Burrito was located.
  • Taco-Tuyo, a vegan Mexican takeout restaurant, is opening on Haley Street in Santa Barbara.
  • Frankland’s Crabshack is opening at the Montecito Inn to serve New England flavored fast food. This will be their first location outside of Los Angeles.
  • Island’s Restaurant, a popular burger chain, has opened in La Cumbre Plaza in Santa Barbara.
  • New three-parcel commercial development near Orcutt’s Clark Ave. and Highway 101 will offer drive-thru and retail space.

Ventura

  • Tarantula Hill Brewing Co. is opening in Thousand Oaks. It is the first microbrewery in the area.
  • Luna Llena Restaurant is opening in Moorpark, serving Mexican food, as well as beer and wine. This location used to be Carli’s Bistro.
  • Hip Vegan Cafe is reopening in Ojai.
  • The vegan, gluten-free seafood restaurant called  SeaGlass by MaMa is opening in Ventura.
  • The Southern-style restaurant Cracker Barrel is opening in Camarillo outlets.
  • BMC (formerly Stock Bldg Supply) is set to open in Thousand Oaks.

San Luis Obispo

  • ON-Bar has opened in the center of downtown Paso Robles. This restaurant has a focus on local wine and seasonal menu items.
  • Hop’s Bounce House, an indoor play place, full of bounce houses, is opening in Atascadero.
  • A new hotel is opening in Pismo Beach called Vespera on Ocean. It is a 124 room Mariott located near the pier, making it the 2nd largest hotel project in the city.
  • Traffic Records is opening a record store in Atascadero.
  • Nautical Bean, a spunky coffee shop has opened a second sister location in San Luis Obispo.
  • A new American Riveria Bank location will be located at 1601 Spring St. in Paso Robles.
  • Kmart is set to close it’s Arroyo Grande location.

Investment & Development News

  • Rising interest rates will put pressure on low cap rates.
  • Nationwide base rents, for all types of centers, has risen by 2.1%.
  • SLO City is No. 6 in the U.S. for woman-owned businesses.
  • Fractional investing will begin to dominate over sole ownership via crowdfunding
  • The city of Camarillo bought 0.35 acres at Arneill Rd for mixed use.
  • SLO:  60 units, a 36-room hotel and 20,000 SF of retail are planned in three separate four-story structures at the site of the former Foster Freeze on Marsh.
  • The city of Oxnard calls for developers for 4.4 acres of mixed use for its downtown.
  • Thousand Oaks: 77 apartments, 21 townhouses and 11,000 SF of commercial space are in the planning process.

Retail News

  • Toys R Us has filed for bankruptcy and is closing most stores in the U.S.
  • Girls accessory store, Claire’s, has filed for bankruptcy.
  • Blue Apron is heading into grocery stores to sell their meal kits after a recent struggle to stabilize stock prices.
  • Macy’s is going to add mobile checkout to all its stores by the end of the year.
  • Amazon opened its first cashier free grocery store in Seattle. The store uses technology to allow customers to walk in, choose what they want, and then walk out through sensors.
  • H&M has launched a new value chain called Afound, with prices even lower than the original H&M chain.
  • Ross is planning new stores, J. Crew will be opening more Madewell stores, At Home Decor Superstore and Hibbett Sporting Goods are expanding.
  • Sephora has recently opened Sephora studio stores, which features custom makeovers, digital components and a more curated experience for shoppers.
  • Nordstrom has opened a store in LA called Nordstrom Local that carries no merchandise but instead offers styling, tailoring, manicures and a beverage bar, all in 3,000sf.

Retail Trends

  • Brick and mortar experimentation is expected to increase. Stores are opening additional locations that offer products in a different format.
  • Visual search technology is projected to make shopping easier. Instead of typing in a search query or selecting certain filters, shoppers will be able to upload a picture of the product and relevant results will be generated.
  • Bankruptcies are expected to slow! This gives a better opportunity to the survivors to make a better profit since there won’t be as much competition with liquidating stores.
  • Madaluxe Vault is set to brick and mortar store at the Outlets in Commerce. Adore Me lingerie going brick and mortar as well.
  • Personalization will be a huge trend in 2018. Consumers will want to build and personalize their products to fit their life and make their shopping experience more exciting.
  • In-home services, delivery, and consultations will thrive in this changing market. Consumers don’t want to leave the house anymore for certain services or goods so companies will adjust. Food delivery companies like Postmates or electronic companies like Enjoy that deliver and set up electronics for consumers will have huge success.
  • The art of coworking space is expected to increase in coming times.
  • Regional and local retailers are making a comeback.
  • More stores will close.
  • Product development time is speeding up.
  • Renting products is on the rise.