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.
More brick-and-mortar store owners have arisen since the pandemic, with strong growth and expansion plans. U.S. retail vacancy has dropped to 6.1% in the second quarter, being the lowest level in the past 15 years. As online advertising costs increase, retailers have started looking to real estate to attract more customers. Physical stores have been reported to build more brand awareness and consumer feedback. For the first time since 1995, more stores have opened in the last year than closed. Despite recession concerns, the success of the retail real-estate industry is expected to continue for the rest of the year. Click here for all the details in the full article published on The Wall Street Journal.
Rise’s southern comfort food has finally arrived on the west coast! The North Carolina-based biscuit chain offers a variety of breakfast/lunch sandwiches, country fried chicken, donuts, and more. There is a broad range of savory and sweet options to choose from with rich toppings, cheeses, and sauces. Rise started in Durham, North Carolina in 2012 and have since expanded into six states including California. Rise has additional plans for further U.S. expansion and was recently featured on QSR magazine’s 40/40 List for ‘America’s Hottest Startup Fast Casuals’ in 2021. The chain was also ranked as one of ‘The Best Biscuits In The U.S’ by Food & Wine Magazine. Rise has leased approximately 1,800 SF in the Conejo Valley Plaza in Thousand Oaks, California and are now open! They join co-tenants Robeks Fresh Juices & Smoothies, Toppers Pizza, HomeGoods, Marshalls, and Ralphs. Matt Haas of Cypress Retail Group represented the
Placer’s insights in July include metrics/reports on Walmart, Albertsons, McDonald’s, Best Buy, Visa, Amazon, Google, Meta, Personal Consumption Expenditures, National/Regional Foot Traffic Trends and more. Click here to read Placer’s CRE Executive Intellig
By the end of the year, Children’s Choice Dental Care will be coming to Village at the Oaks in Bakersfield. This shopping center is situated at the northeast corner of Gosford Rd (30,123 CPD) and White Lane (33,828 CPD), which is one of the most heavily trafficked intersections in the trade area. Children’s Choice provides board-certified pediatric dentists offering preventive, restorative, and special needs dental care. The practice was founded by a pediatric specialist in 2005 and now has over 20 locations across California. These offices include child-friendly murals, video/interactive games and toys to create an environment comfortable and enjoyable for children of all ages. Children’s Choice has leased approximately 3,208 SF of space in the Albertsons and Rite Aid anchored center. The pediatric dental office will also be joining existing and future co-tenants including Taco Bell, W
Pizza Guys is officially open at Stockdale Plaza in Bakersfield. The restaurant offers specialty pizzas and pastas using quality ingredients grown in California. Its menu includes a variety of sides like hot wings, salads, flatbreads and more. Starting in 1986, Pizza Guys now has over 70 stores in California and Nevada. The restaurant leased approximately 1,354 SF in the Bakersfield development that has only one more space of 1,200 SF available. Pizza Guys joins existing and future co-tenants at the Stockdale Plaza including Bed Bath & Beyond, Aldi, Chuze Fitness (coming soon), In-N-Out, California Fish Grill, Teaspoon (coming soon), and Randy’s Donuts. Matt Haas and Bob Haas of Cypress Retail Group represented the landlord in this transaction.
Teaspoon is joining Stockdale Plaza in Bakersfield very soon! Teaspoon is a modern boba tea café that creates unique tea drinks, snow ice, and more. Starting in California’s Bay Area, Teaspoon has served more than 5 million drinks in 20 locations around the state. The boba tea café has leased approximately 1,477 SF in the new pad development and is now expected to open in August this year. Teaspoon joins an exciting lineup of existing and future co-tenants at the Stockdale Plaza including Aldi, Chuze Fitness (coming soon), Urbane Café, California Fish Grill, Pizza Guys, and Randy’s Donuts. Matt Haas and Bob Haas of Cypress Retail Group represented the landlord in this transaction.
With 3,000 locations and counting, Chipotle Mexican Grill has opened another restaurant in Enos Ranch Center West. This center is located at the northwest corner of Betteravia Rd and S. College Drive in Santa Maria. The Mexican fast-food chain has leased approximately 2,400 SF in the new pad development with a patio and Chipotlane. This pick up lane is available for customers to drive up and receive orders they placed online or through the app. Chipotle joins co-tenants including Dutch Bros, Aldi Grocery, Boot Barn, and Raising Cane’s with businesses like Crumble Cookies and Juice It Up opening later this year. Bob Haas of Cypress Retail Group represented the tena
Although we’ve been witnessing the highest inflation in more than 40 years, many economists expect U.S. retail sales to rise by 6-8% this year. U.S. retail spending has increased in April compared to March, which would be the fourth monthly increase in a row. Click here for all the details in the full article published on CoStar.