Over the last decade, Erewhon, grocery anchor at Cypress Retail Group’s Summit at Calabasas listing, has expanded into 10 locations and transformed into the world’s trendiest and most extravagant market. Now deemed a “quintessential L.A. experience”, the upscale organic grocer known for supplying only the purest health foods and products has become one of Hollywood’s hottest gathering spots with an impressive fan base. A recent article published in The Hollywood Reporter, accessible here, provides a detailed insight into the family behind this true retail phenomenon, its mega success in the health food market sector, and future growth plans. For current leasing opportunities to join the Erewhon-Anchored Summit at Calabasas shopping center, click here.
Latest News Items
This category is for the regular posts, news items.
Chipotle Mexican Grill recently reported it third quarter financial results, showing an 11.3% increase in total revenue over last year’s Q3 numbers, largely driven by new restaurant openings. The chain opened 62 new locations in Q3 alone, with 54 of those including a Chipotlane. For more detailed numbers and Chipotle’s future outlook, click here for the full article from RNR Restaurant News.
The Kebab Shop, Dog Haus and Pinkberry have recently executed leases to join Santa Clarita’s Plaza at Golden Valley, securing three of four highly desirable positions in the former Sizzler restaurant pad redevelopment. Leasing activity for what is considered the dominant power center in eastern Santa Clarita Valley has remained strong throughout the year, with a national grocery store executing a lease last month for 16,000 SF formerly occupied by Party City, and Daiso now under construction in approximately 7,700 SF adjacent to Kohl’s. Given the project’s exceptional co-tenancy and strategic positioning along the heavily travelled 14 Freeway, the final remaining availabilities are expected to lease up quickly. Matt Haas and Bob Haas of Cypress Retail Group represented the landlord in the acquisition of the property last year and have since been responsible for all leasing efforts within the center on behalf of the new ownership.
The FTC, accompanied by 17 states, has officially filed a federal anti-trust lawsuit against Amazon, in an effort to hold the company accountable for its alleged monopolistic practices. For more details, click here for the full article from Chain Store Age.
Check out the following article from California Centers magazine about the newest Lazy Acres location. Scott Manclark of Cypress Retail Group represented the tenant in this transaction.
California Centers – “Lazy Acres Opens 31,000-Square-Foot Store in Los Angeles”
“The new Lazy Acres Natural Market in Los Angeles marks the sixth location for the brand.”
|“LOS ANGELES — Lazy Acres Natural Market has opened a 31,000-square-foot store in the Los Feliz neighborhood of Los Angeles, marking the sixth location for the brand. Landlord CGI+ Real Estate Investment Strategies developed the space after purchasing three adjacent properties, one of which was home to a 23,000-square-foot Rite Aid, in separate transactions.
CGI+ reduced the existing building to its shell and core and rebuilt the structure with 8,500 square feet of new construction and added a parking lot.
Lazy Acres offers natural and organic groceries, a bakery, coffee and juice bar, full-service deli, prepared foods and a selection of health and beauty products.”
Article from California Centers Magazine
Darden Restaurants, national multi-brand full-service restaurant owner and operator, has just announced its intended acquisition of Ruth’s Hospitality Group, parent company of Ruth’s Chris Steakhouse, for $715 million. Click here for additional details in the full article from Restaurant Dive.
The Kebab Shop and AT&T have recently executed leases to join the Plaza at Golden Valley, a 600,000 SF regional shopping center situated along the 14 Fwy at Golden Valley and Via Princessa in the Santa Clarita Valley.
The Kebab Shop is set to occupy approximately 2,978 SF on the northern endcap of the former Sizzler building, which is being redeveloped into a multi-tenant pad. A San Diego-based fast-casual Mediterranean restaurant offering kebabs, wraps, plates and other specialized combinations, The Kebab Shop first opened its doors in 2008 and has now grown to over 30 locations across California and Texas, with a Florida restaurant coming soon.
AT&T will occupy approximately 1,203 SF in an endcap position of a pad building in the south parcel of the shopping center, anchored by Target, T.J. Maxx and Kohl’s.
Matt Haas and Bob Haas of Cypress Retail Group represented the landlord in these transactions, as well as the acquisition of the property last year.
Nationwide home goods retailer, Bed Bath & Beyond, Inc., has officially filed for Chapter 11 Bankruptcy and will be closing all of its remaining 480 stores located across the country, including 120 which operate under their buybuy BABY brand. Click here for additional details from the full article in Shopping Center Business.
Last year’s unprecedented inflation has had a significant impact on shopping habits across all facets of the retail industry. Although the rate of price increases is predicted to slow down this year, it is expected to vary across categories and continue to affect consumer behavior, presenting challenges for retailers. Click here to check out a recent article from Grocery Dive which details the response of the grocery sector and some of the strategies that are being implemented to keep consumers shopping in their stores.
Philz Coffee has opened in Calabasas at the Summit on December 13, 2022. The San-Francisco based coffee company has 69 locations throughout the United States. The popular coffeehouse chain has a variety of blends using different coffee beans from around the world. Philz Coffee was founded by Phil Jaber who dedicated 25 years to creating the company’s one-of-a-kind coffee blend recipes. Every store grinds the beans and brews each cup of coffee fresh upon order for its customers. The company also offers its coffee beans in bulk at its stores, as well as online. The coffee chain’s mission involves putting people first by treating all customers with quality service, attention, and care. Philz Coffee leased a 1,795 SF space in the Calabasas shopping plaza.
Cienega Med Spa is one of Los Angeles’s top rated med spas that offers clients a range of non-invasive cosmetic procedures for face, body, and wellness. Some of these include laser hair removal, medical spa treatments, IV hydration, skin tightening, CoolSculpting, facials, fillers, and other therapeutic services. All three of the medical spa’s locations are doctor and nurse practitioner supervised with free consultation offerings. Cienega Med Spa opened at the Erewon-anchored shopping center in November with a space approximately 3,238 SF.
Rose’s Garden Bar offers Calabasas a fun and majestic dining experience with heated outdoor/indoor seating available. The restaurant creates a romantic and whimsical ambience with colorful lights, flora, and trees. Rose’s Garden Bar includes craft cocktails, wines, and other specialty drinks. Their delicious lunch/dinner menu features popular American dishes like the truffle waygyu burger and fresh Alaskan scallops. The dining bar opened at the Summit in November, 2022 and leased approximately 900 SF.
The Summit at Calabasas can be easily accessed from the 101 freeway (173,000 CPD) at Lost Hills Rd and Las Virgenes Rd. Philz Coffee, Cienega Med Spa, and Rose’s Garden Bar will join existing co-tenants including Erewhon, Universal Appliance, Jersey Mikes Subs, Furn Saj Bakery, Salon Nuuvo, Sugaring NYC, and Mathnasium. Bob Haas and Matt Haas of Cypress Retail Group represented the landlords in these transactions.