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SAN DIEGO Cushman & Wakefield Global Cities Retail Guide

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SAN DIEGO Cushman & Wakefield Global Cities Retail Guide SAN DIEGO Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | San Diego | 2019 0 Sun, surf and scenery define San Diego. Situated in the southernmost corner of California’s coastline, the city is set apart by a nearly ideal climate, 70 miles of coastline, vibrant nightlife, and diverse food culture — all of which contribute to its eclectic retail offerings. Those, combined with family-oriented recreation, luxurious accommodations around the county, and world-class arts and culture have made the city one of the top ten travel destinations in the United States, according to US News and World Reports. Named by National Geographic as one of the “World’s Smart Cities”, San Diego offers much more than off-duty fun. World-renowned academic institutions, research consortiums and innovation incubators also define the culture. The city is home to a number of major corporate headquarters and has a competitive stronghold in software, biotechnology and life sciences, aerospace and maritime technologies, healthcare, action sports and telecommunications. These industries, coupled with San Diego’s diverse residential base and steady stream of domestic and international tourists, generate demand for a wide array of retail products and services and create a distinctive retail environment. SAN DIEGO San Diego is the launching pad for many new food concepts, independent eateries and restaurant chains. OVERVIEW The vitality of the Food & Beverage sector is not surprising given the state’s abundance of agricultural products and proximity to innovative and celebrated chefs. Cushman & Wakefield | San Diego | 2019 1 SAN DIEGO KEY RETAIL STREETS & AREAS DOWNTOWN LA JOLLA / UTC Downtown has grown to encompass distinctive La Jolla is a prosperous coastal community within San neighborhoods, including: Little Italy, Cortez Hill, Columbia Diego County, located approximately 12 miles north of District, Marina District, Gaslamp Quarter and East Downtown San Diego. La Jolla’s beautiful beaches are Village. The downtown market has historically benefitted world-famous. The community has strong daytime tremendously from being a tourist and entertainment demographics, an affluent resident base and year-round destination. The Gaslamp Quarter is ranked as San tourists. La Jolla Village, a popular tourist destination and Diego’s number one tourist attraction with nearly ten business district offers an abundance of hotels, million visitors annually. The diverse neighborhoods, restaurants, boutiques, cafés, museums and other high- comprised of an eclectic mix of restaurants, cafés and end retailers. University Towne Center, located just east charming boutiques, help make downtown a hip and of La Jolla, is home to Westfield UTC mall which recently popular destination for dining, nightlife and the arts. enjoyed a $600 million renovation. La Jolla is also home to the University of California San Diego, Scripps Institution of Oceanography, Scripps Research Institute MISSION VALLEY and the Sanford-Burnham Medical Research Institute. Additionally, UTC is one of the most-sought after office Mission Valley serves as an important shopping, addresses in the county. entertainment and business center for San Diego. The area boasts two major shopping malls: Fashion Valley Mall and Westfield Mission Valley. Many other commercial CARLSBAD developments can be found in the valley, including shopping plazas, car dealerships, hotels, restaurants and Carlsbad, or “Village by the Sea”, is considered one of office buildings. Surrounding restaurants and retail shops San Diego County’s core retail trade areas, boasting 25 benefit from a central high-rise office core, which lends to shopping centers. The City of Carlsbad has attracted an influx in daytime population. SDCCU Stadium serves some of the region’s top employers such as Callaway as a major attraction and is home to the San Diego State Golf, Thermofisher Scientific, Taylormade - Adidas Golf University Aztec football team, the Holiday Bowl, and ViaSat, which have strengthened the local economy. International Champions Cup soccer, arena concerts, and Notable features in the area include Legoland California, other events. SeaWorld and Mission Bay are situated at The Flower Fields, The Carlsbad Premium Outlets, the western outlet of Mission Valley, just west of the Westfield Plaza Camino Real, La Costa Town Square and area’s boundaries. The Forum. Cushman & Wakefield | San Diego | 2019 2 SAN DIEGO KEY RETAIL STREETS & AREAS CARMEL MOUNTAIN RANCH CHULA VISTA Carmel Mountain Ranch is an upscale, inland community, Chula Vista is the second-largest city within San Diego nestled in the northeast corner of San Diego County, the County. Located seven miles from both downtown San community is bounded by the city of Poway to the east, Diego and Tijuana, the busiest land border crossing in the Rancho Bernardo to the north and Rancho Peñasquitos to U.S., Chula Vista has experienced rapid growth as the last the west. There are several shopping centers located major land development in the South Bay region. Chula within the area, including Carmel Mountain Plaza, Carmel Vista, which is Spanish for “beautiful view” boasts more Mountain Ranch Town Center, Carmel Mountain Ranch than 50 square miles of coastal landscape, canyons, Home Center, Price Plaza and The Courtyard at Carmel rolling hills and mountains. Shopping, dining and Mountain Ranch. These shopping centers create one of entertainment thrive among a historic downtown district the most dominant retail trade areas in north San Diego with two major malls, including Otay Ranch Town Center. County’s Interstate-15 Corridor, offering an outstanding mix of major national brand retailers, local specialty shops and restaurants. HIGHWAY 78 CORRIDOR Highway 78 stretches across the North County region of San Diego County, intersecting the cities of Escondido, San Marcos, Vista and Oceanside. Combined, the population total for these cities is over 500,000. San Marcos - home to California State University San Marcos and Palomar College - is considered the educational hub of North County. Retail along the corridor is a mix of regional, power and community centers, plus several home furnishing showrooms known as “Furniture Row,” most of which are visible and easily accessible from the highway, catching the attention of North County commuters. Cushman & Wakefield | San Diego | 2019 3 SAN DIEGO MARKET OVERVIEW KEY AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT RANGE OF UNIT STREETS/SHOPPING PROFILE FOR UNIT OF 2,000 SIZES CENTERS SQFT Downtown Locals, Tourists, Macy's, Lucky Brand Jeans, Urban Outfitters, Vans (Coming Summer $36-$96 PSF 350-23,000 Daytime Banana Republic, Victoria's Secret, Forever 21, 2019) Business, Skechers, Oakley, MAC Cosmetics, Quiksilver, Conventioneers Reebok Fithub La Jolla / UTC Affluent Locals, Nordstrom, Macy’s, Ralph Lauren, Forever 21, Billabong, Bonobos, $42-$100 PSF 225-21,000 Tourists, Daytime Brooks Brothers, Roxy/Quiksilver, Tommy Quay Australia, Vineyard Business Bahama, Kate Spade, Lucky Brand Jeans, Jos. Vines, Warby Parker, A. Bank, White House|Black Market, Amazon Room & Board Books, Gepetto’s, Orange Theory Fitness, Crate & Barrel, Nordstrom Rack Mission Valley Locals, Daytime DSW Shoe Warehouse, Old Navy, West Elm, Joie, Montblanc, Rolex, $30-$60 PSF 400-30,000 Business, The Container Store, Nordstrom Rack, Target, Saje Natural Wellness Tourists Costco, Apple Store, Microsoft, Bloomingdale’s, Nordstrom, Neiman Marcus, Macy’s, JC Penney, H&M, Forever 21, Burberry, Gucci, Hermes, Jimmy Choo, Tiffany & Co., Kate Spade, Pottery Barn Carmel Mountain Ranch Locals Pier 1 Imports, Trader Joe's, BevMo, Chico’s, $30-$48 PSF 790-12,000 Nordstrom Rack, Marshalls, Ross, Michael’s, Costco, Ralphs, Banana Republic Outlet, TJ Maxx, Staples, Best Buy, Saks Off 5th, Sears Outlet, Dick’s Sporting Goods, Ulta Cushman & Wakefield | San Diego | 2019 4 SAN DIEGO MARKET OVERVIEW KEY AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT RANGE OF UNIT STREETS/SHOPPING PROFILE FOR UNIT OF 2,000 SIZES CENTERS SQFT Carlsbad Locals, Tourists Macy’s, Polo Ralph Lauren Factory Store, Johnny Was, Everything $24-$48 PSF 800-35,000 Coach, Apple Store, H&M, MAC Cosmetics, But Water, Windmill LOFT, Tilly's, Urban Outfitters, Talbots, ULTA, Food Hall (Coming Bed Bath & Beyond, Anthropologie, J. Crew, 2019), Planet Fitness Madewell, LaCoste, Lululemon, Lowe’s Highway 78 Corridor Locals Fry’s Electronics, Nordstrom, Nordstrom Rack, HomeGoods $24-$42 PSF 900-58,000 Ross, Marshalls, Bed Bath & Beyond, Petco, Party City, Walmart, World Market,, Michaels, ULTA, Lowe’s, Hobby Lobby, Living Spaces, PetSmart, Old Navy, Target, Ashley Furniture, Ethan Allen, Jerome’s Furniture Chula Vista Locals Macy’s, REI, H&M, DSW, Banana Republic, Ross Dress for Less, $13-$40 PSF 400-50,000 ULTA, Best Buy, Pier 1 Imports, Petco, TJ Maxx, GTM Discount General Target, Lowe’s, Burlington Coat Factory, JC Stores, Wal-Mart Super Penney, HomeGoods, World Market Center, Zumiez, Cost Plus Cushman & Wakefield | San Diego | 2019 5 SAN DIEGO SHOPPING CENTERS DEL MAR HIGHLANDS WESTFIELD UTC Del Mar Highlands, an over-260,000-square-foot luxury Adjacent to the posh enclave of La Jolla, Westfield UTC shopping center in the upscale Del Mar neighbourhood of recently underwent a two-phase complete renovation Carmel Valley, boasts $750 average sales per square foot resulting in modern architecture, a brand new Nordstrom and $1.2 million in grocery sales per week. There are building, reoriented
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