HomeMy WebLinkAboutInformational Item - Retail Vanancy Report - 08/26/2004CITY OF PALM DESERT
STAFF REPORT
REQUEST: INFORMATIONAL ITEM — RETAIL VACANCY REPORT
SUBMITTED BY: RUTH ANN MOORE, BUSINESS SUPPORT MANAGER
DATE: AUGUST 26, 2004
Westfield has completed its major renovations on the mall entrances, interior concourses, parking
garages, Robinson's May and food court expansions. Eighteen stores have come to the center in
the past year including Barnes & Noble, Pat & Oscar's, Cinemas Palme d'Or, Limited Too, Hot
Topic and Panda Express.
This fall will include the complete remodel of the former Robinson's May east store into the new
Sears. Also opening in the center will be a 20,000 s.f. Macy's Home Store, No Fear clothing for
teens, Flip Flops Shoes, a day spa called The Spa Bar, Dono Sushi, and Torrid, the plus size
concept from Hot Topic. Palme d'Or will expand into the remaining closed portion of the previous
theater and will now include another three screens. In addition, Palme d'Or will begin a live theater
presentation this fall. Once the renovations, expansion and new stores are complete, Westfield
will be 94% leased.
The remodel of Palms to Pines East will be completed this fall. Over the past two years, the
center has seen the expansion of Staples from 11,000 s.f. to a 30,000 s.f. store on the western
end cap. Tweeter's, a high -end electronics retailer, moved into the far east corner of the property.
With the move by Big 5 to Waring Plaza, 25,000 s.f. was made available and is currently under
renovation for a 99-Cent Store which will open in the fall. With the completion of the facade
updates to the center, Palms to Pines Plaza East will be fully leased for the first time in a decade.
Desert Crossing was purchased this month by Prudential Investments, which is their first property
in the desert. They have met with staff on landscape issues and the possible increase in size of
the center's out -pads. As you are aware, Old Navy opened last month and is now back in the
desert after a three year absence. They have just announced David's Bridal as a 10,000 s.f.
tenant for this season. David's Bridal will take over the fan store at the far end cap of the
Hometown Buffet building. The fan store will move into the Great Party location. Great Party is
currently looking at another location in the city. Desert Crossing is 99°I° leased.
The vacancy in Waring Plaza left by Barnes & Noble was filled by Big 5 Sporting Goods which
moved from Palms to Pines East. In addition, Mamacita's Mexican Grill has been announced as
the replacement for La Taqueria. Waring Plaza is 97% leased.
Albertson's Center at Washington announced a new 7,000 s.f. pad will soon be under
construction and will house Panda Express and Starbucks. This center is 99% leased.
G:;RDA \Niamh Ortega Wpdata\Ruth Ann`Staff RcportsVetail vacancy 081604. wpd
Retail Vacancy Report
August 26, 2004
Page 2 of 2
Ethan Allen has begun construction in the Costco Center and will open this fall near the
Lighthouse.
Restaurants
The past year saw the expansion and opening of Cuistot on Highway 111. This year, three new
restaurants will open on Highway 111 and one on El Paseo.
The Kaiser Family Restaurant Group will be replacing the Kaiser Grill concept with Big Fish Oyster
Bar & Grill this fall. The restaurant is currently closed and completing renovation for the new
concept which will open in the fall.
Red 74 will replace Smokey's which recently closed. The restaurant, which is now owned by Billy
Mieldazis (former owner of the Falls Prime Steak Houses in Palm Springs and La Quinta), will be
remodeled and will open this fall. The new concept will include evening entertainment.
The Jetty has taken over the former Captain Cook's. This seafood restaurant which will open this
fall will include evening entertainment such as jazz and comedy night.
The Firecliff Restaurant will open late in the fall in the former El Paseo Grill. The owners, former
operators of the La Quinta Grill have closed the restaurant in La Quinta and plan a renovation at
the El Paseo restaurant. They are currently working with staff on a facade enhancement grant.
Business Support Manager
RAM:nmo
Approval:
McCarthy
for Redevelo
G:1RDA\Niamh Ortega \Wpdata`.Ruth AnnStaffReports\retail vacancy 081604.wpd
Carlos L. Orte
City Manager