GPS Retail Newsletter

Fourth Quarter 2016

Santa Barbara County

  •  Avis Rent a Car property located at 34 E Montecito Street, in the Santa Barbara Funk Zone, sold for $2.5 Million.
  • Heritage Oak Bank’s parent company is being acquired by Pacific Premier Bancorp Inc., a deal valued over $400 Million.
  • Blue Water Grill will be taking over the former Rusty’s Pizza Parlor location in the lighthouse building near Stearns Wharf, projected opening of the restaurant is mid-2017.

  • Churchill Jewelers, located at 1015 State Street, closes its business after being in business for 98 years.
  • Mac’s Fish and Chip Shop closes its business at 503 State Street and will be the new location for Hana Kitchen, currently located at 5 W Haley Street.
  • Red Kettle Coffee opens for business in Summerland located at 2275 Ortega Hill Road.
  • Nurture Cottage opens its doors for business at 1213 Coast Village Road in former Gaspar Jewelers.
  • Scratch Bar & Kitchen signs a lease in historic 129
  • Julienne restaurant located at 138 E Canon Perdido Street, closes for business after eight years.
  • Somerset restaurant will be coming opens its doors at 7 E Anapamu Street.
  • La Bella Rosa Bakery opens its 2nd location in Goleta at 7121 Hollister Ave #18 in the Albertsons shopping center.
  • Gold’s Gym takes over 3 Santa Barbara Bay Clubs, these locations include 21 W Carrillo Street, 390 State Street and 6144 Calle Real.
  • Mesa Burger opens for business on the Mesa located at 315 Meigs Road.

Ventura County

  • Kanaloa Seafood opens its doors for business in Oxnard’s industrial park area, located at 251 Lombard Street.
  • Kay’s Coffee Shop opens for business in Old Town Camarillo in former Element Coffee location at 2364 Ventura Blvd.
  • Los Agaves Mexican Restaurant to open in early 2017 at The Collection at RiverPark in Oxnard.

            Opening in Ventura

  • Pizzscotti Trattoria n’ Bakery Bar opened for business in Simi Valley Town Center, located at 1555 Simi Town Center Way #290.
  • Dunkin’ Donuts opens its first Ventura County location in the North Ranch Gateway in Westlake Village, 30895 E Thousand Oaks Blvd.
  • Fifty150 Wear, a casual street wear retailer, opens its doors to downtown Oxnard at 408 S A Street.
  • Mister Softee, 2 food trucks that serves ice cream and coffee to Ventura and Los Angeles Counties, to open in Old Town Camarillo in early 2017.
  • Rumfish y Vino, a restaurant started in Belize, opens its 2nd location that opened in Ventura.
  • RELM Wine & Beer Bistro opens its doors for business in former Daphne’s California Greek located at the Camarillo Village Square.
  • Easterseals Southern California Therapy Services Center opens in Oxnard bringing a new therapy option to families and individuals, located at 1889 N Rice Ave #102.
  • Grocery Outlet to open in East Ventura at Telephone and Petit.

San Luis Obispo County

  • Mind Body a San Luis Obispo based software company expands into Santa Barbara County with a new Santa Maria office.
  • Silva Brewing opens new brewery and tasting room in Paso Robles, at 525 Pine Street #B, on December 3rd.
  • Toro Creek Brewing Co. opens its premier tasting room, at 1111 Riverside Avenue #103, Paso Robles.
  • California Fresh Market opens its doors to San Luis Obispo in former Haggen grocery store located at 771 Foothill Blvd, signed a 25 year lease with property owner in April.
  • Camp Arroyo Grande is being sold to undisclosed buyer soon after the city unsuccessfully tried to negotiate a deal to preserve the campground.
  • Harbor Freight opens in the former Smart and Final Extra space

Retail News

  • Fresh Market is purchased by Apollo for 1.4 million.
  • American Apparel files for its second Chapter 11 bankruptcy protection in November around one year after its first filing.
  • Women’s apparel retailer Nasty Gal has filed for Chapter 11 bankruptcy protection.
  • Amazon wants to open 20 brick-and-mortar stores over the next two years and possibly could open 2,000 stores over the next decade.
  • Off-price retailers, such as T.J Maxx and Nordstrom Rack, thrive as department stores see decrease in revenue.
  • White Barn Candle grows alongside  Bath & Body Works, this unique retail environment is a store within a store or a side-by-side store and with Bath & Body works opening 33 stores and remodeling 83 stores in the past year 54 have a White Barn. Bath & Body Works has plans on opening 35 stores and to remodel 149 in the upcoming year most of which will have a White Barn.
  • Autozone’s new store openings, 71 stores in the 4th Quarter, boost the company’s profits.
  • Sears and K-Mart stores are closing seventy stores with one store closing in Riverside, CA.
  • Krispy Kreme was acquired by a German investment firm buying up coffee companies such as Peet’s.

Retail Trends

  • An increasing number of grocery stores are offering food and dining in store. This includes café’s, restaurants, and bars. Many grocers that already produce ready-to-eat meals have most of the required infrastructure and employees to operate these services. The target market is areas with a demographic of wealthy households and/or singles.
  • Recently, the economic recovery has driven sales growth in retail categories such as sporting goods, home improvement, furniture, and apparel. Many chains have positioned themselves to continue this growth throughout the rest of the year.
  • Many Companies are positioning their portfolios on internet-resistant retailers. These include tenants in the health, beauty, wellness, and fitness market.
  • Middle-market retailers are struggling, which economists believe can be explained by a struggling middle class. Luxury chains are still performing well.
  • Total growth for back to school spending for grades K-12 has risen 54.8% over the past decade. $75.8 billion is expected to be spent this year on back to school shopping. $68 billion was spent last year by families for back to school shopping.
  • Malls are bringing in health care such as urgent care clinics to add diversity and bring in more customers. Although this is not a new idea, it has been growing in popularity.
  • Restaurants are now setting up charging stations for electric cars. Ruby Tuesdays partnered with Tesla to set up charging stations at their restaurants exclusively for Tesla Cars.
  • Home renovations are hot with annual spending on remodeling expected to reach $321 billion, just shy of its prerecession peak in 2006.
  • A consumer shows that 75% of shoppers are uncomfortable using face recognition techniques.
  • Food halls stalls cost $50,000-$75,000 for the operator, sometimes developers will finance that amount if they want the operator.
  • In 2016, credit and debit card payments will have surpassed cash payments globally for the first time in history.
  • The U.S. average increase in construction cost was aproximately 1.5% between April and July 2016.
  • On the rise: International retailers are setting up shop stateside.

Investment and Development News

  • An increasing number of grocery stores are offering food and dining in store. This includes café’s, restaurants, and bars. Many grocers that already produce ready-to-eat meals have most of the required infrastructure and employees to operate these services. The target market is areas with a demographic of wealthy households and/or singles.
  • Recently, the economic recovery has driven sales growth in retail categories such as sporting goods, home improvement, furniture, and apparel. Many chains have positioned themselves to continue this growth throughout the rest of the year.
  • Many Companies are positioning their portfolios on internet-resistant retailers. These include tenants in the health, beauty, wellness, and fitness market.
  • Middle-market retailers are struggling, which economists believe can be explained by a struggling middle class. Luxury chains are still performing well.
  • Total growth for back to school spending for grades K-12 has risen 54.8% over the past decade. $75.8 billion is expected to be spent this year on back to school shopping. $68 billion was spent last year by families for back to school shopping.
  • Malls are bringing in health care such as urgent care clinics to add diversity and bring in more customers. Although this is not a new idea, it has been growing in popularity.
  • Restaurants are now setting up charging stations for electric cars. Ruby Tuesdays partnered with Tesla to set up charging stations at their restaurants exclusively for Tesla Cars.
  • Home renovations are hot with annual spending on remodeling expected to reach $321 billion, just shy of its prerecession peak in 2006.
  • A consumer shows that 75% of shoppers are uncomfortable using face recognition techniques.
  • Food halls stalls cost $50,000-$75,000 for the operator, sometimes developers will finance that amount if they want the operator.
  • In 2016, credit and debit card payments will have surpassed cash payments globally for the first time in history.
  • The U.S. average increase in construction cost was aproximately 1.5% between April and July 2016.
  • On the rise: International retailers are setting up shop stateside.