GPS Retail Newsletter

Second Quarter 2017

Ventura

• Cici’s Cafe opens a second location in Westlake Village at 30990 Russel Ranch Road, after their first and successful Encino location.

• Bottle & Pint will be opening their second location in The Collection in Oxnard, following the original location’s success in Newbury Park.

• PokeRamen– is bringing Korean flair to Port Hueneme at 429 E. Port Hueneme Road at Oxnard & Statham Blvd., the Channel Islands Center.

• Pt. Hueneme’s Denny’s reopens after complete renovation at 2511 N. Ventura Rd., in the Hueneme Bay Center.

• New fine-dining experience Casa Bella Prime Steak and Seafood had its grand opening on June 6th on Main St. in Ventura. It is located at the former American Apparel store at 391 E. Main at Oak.

• Artisan chocolate boutique, Ex Voto Chocolates and Confections, opens up in Midtown Ventura, located at 2646 E. Main St.

• The Park Resturant and Bar has opened in the former, On the Thirty/Leila’s Resturant space, at 706 Lindero Canyon Rd. in Oak Park

• Sprouts Farmers Market opened the 28th of June at 2400 Las Posas Rd. in Camarillo.

Santa Barbara

• Los Arroyos opens its doors in Calle Real Shopping Center located at 5764 Calle Real in Goleta.

• Gao Taco, focusing on South Asian-Mediterranean partha tacos, opened this June at the former Gandolfo’s at 718 State Street in Santa Barbara.

• Sun Sushi is taking the place of Ahi Sushi, opening at 3631 State St., near Tee-Off.

• Meun Fan Thai Cafe opens their second location in Goleta at the Calle Real Shopping Center, following a successful operation on the Mesa in Santa Barbara.

• Bottlest Restaurant and Winery opens in Buellton.

• Santa Maria Brewing Co. is planning a new taproom for Santa Maria at 1451 Fairway Drive.

 Wendy’s os opening a new location at the north end of Broadway.

San Luis Obispo

• Santa Maria Brewing Co. to opening several new locations, one at the old Harley-Davidson dealership at 7935 San Luis Ave. in Atascadero, and another at 1401 Park St. in Paso Robles.

• Locally owned health food restaurant Planted opens in Arroyo Grande village at 201 E. Branch St.

• The historic corner of Higuera & Chorro is part on the market for sale.

• Forden’s is relocating and sold its building after operating there since the 1920’s.

• Sprouts Market to open in Forever 21 space off Madonna Rd. in San Luis Obispo.

• Applebee’s has closed their Paso Robles and San Luis Obispo stores.

Retail News

• Petsmart acquires Chewy.com for $3.35 billion

• Macy’s, Kmart, and Sears still closing stores.

• In 2017, Abercrombie is closing 21% of its stores, BCBG 25%, Chico’s 10%, Children’s Place 20%, Rue 30%, and Michael Kors 16% of their stores.

• American Apparel, WetSeal, Ltd., and Bebe are closing all their stores.

• Staples has been acquired by a private equity firm Sycamore Partners for $10.25 per share for cash. The deal is valued at about $6.9 billion.

• Prime Day, July 11,  2017, is Amazon’s epic day of deals, which is on pace to be the biggest yet.

• Michael Kors to close up to 125 of 800 stores as luxury retailer’s slump deepens.

• Payless to shutter 400 stores

• Taco Bell embarks on a massive expansion to open around 300 city-styled Cantina restaurants to urban areas by 2022.

• Ferrero USA Inc. opened its first Nutella Café in Chicago

• ThredUp, an online thrift store that counts some 20 million users has opened its first-ever physical storefront

• German grocery chain Aldi Inc. will invest $3.4 billion to expand U.S. store base to 2,500 by 2022.

• Amazon is buying Whole Foods for $13.7 billion.

Investment & Development News

• Ponvalley Family office is creating an Impact Investment Fund to encourage innovation for for-profit ventures that tackle social and environmental issues, with one idea for adding residential to downtown Santa Barbara, This is similar to the conclusion drawn in a study done by the Downtown Organization of Santa Barbara.

• Patagonia purchases 7.87 acre Brooks Institute campus in Ventura.

• Ventura Port Board of Commissioners chooses H. Parker Hospitality to develop two parcels along the Ventura Harbor. On Spinnaker Dr., the high hotel firm envisions an upscale 64-room hotel facility, as well as a hybrid hostel for those looking to spend less.

• An125 unit gated residential development is being planned for Broadway and Preisker in Santa Maria as well as a Hampton Inn.

• Pismo Beach city approves plans to upgrade Price St. into a walkable Restaurant Row between Hollister and Pomeroy Avenues.

Retail Trends

• Restaurants and fitness centers are new desired junior anchors

• The next decade is all about mixed-use and redevelopment, creating an urban feel in a suburban location.

• Despite store closings, brick-and-mortar retail sales outweigh online sales.

• The truly successful independent restaurants are expanding and graduating to chain status, many times more of a draw and in demand than standard chain operations. An example is a successful hometown San Diego restaurant, Luna Grill, outranks Shake Shack in growth with plans to open as many as two dozen restaurants by end of 2018. It was chosen as the 5th ranked fastest growing chain by FastCasual.com.

• Customers are looking for interactive experiences while out shopping- a yoga class at Lululemon or cooking demo at Whole Foods- can be a powerful draw.

• An increase in ‘micro specialty leasing’, where tenants are coming in on a weekly or monthly basis, creating pop-up shops. Stores such as Burberry and West Elm have curated tables in their stores where customers can make their own crafts.

• Specialty kiosks offer authentic and interesting food-and-beverage items, leading to an increase in dwell time at shopping centers, therefore leading to increasing dollars spent at the centers.