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 walkways and seating areas, event active plans for a 120,000-square foot expansion to the areas, and many new stores (both boutique and national) center which will bring the total size to about 381,000 and eateries. square feet at completion. Del Mar Highlands is home to New retailers include Billabong, Bonobos, Gorjana, the #1 volume luxury 8-plex in the Unites States – Johnny Was, Marine Layer, No Rest for Bridget, Rodd & Cinepolis. The cinema recently expanded and now Gunn, Quay Australia, Sundance, Superdry, Untuckit, features 11 screens and all new state-of-the-art Vineyard Vines, Warby Parker, Aesop, Jo Malone, NYX, accommodations. Other major tenants include Rituals, Saje Natural Wellness, Amazon Books, Tesla, Bluemercury, Mathnasium, Tilly’s, Davanti Enoteca, Arhaus and Room & Board. Mendocino Farms, Nekter Juice Bar, Philz Coffee, Searsucker, Snooze Eatery, Starbucks, Urban Plates and New food options include True Food Kitchen, Larsen’s Jimbos Naturally. Steakhouse, Great Maple, Lemonade, Raised by Wolves, Shake Shack, The Winery, Bazille, Sweetfin Poke and La Colombe Coffee. FASHION VALLEY MALL San Diego’s largest regional mall, Fashion Valley is located in Mission Valley and is home to more than 200 stores. San Diego’s only locations of designer retailers such as Chanel, Hermes, Burberry, Prada, Ferragamo, Bottega Vaneta, Balenciaga, Valentino, Fendi, Celine, Gucci and Louis Vuitton are located at Fashion Valley. The mall is also home to department stores Nordstrom, Bloomingdale’s, Neiman Marcus, Macy’s and JC Penney, eateries like The Cheesecake Factory, True Food Kitchen and CPK, and retailers such as Anthropologie, Banana Republic, Club Monaco, Free People, Kate Spade, Lululemon, Madewell, Nike, Topshop , Zara and Forever 21.
Cushman & Wakefield | San Diego | 2019 6 DEVELOPMENT TO WATCH OUT FOR
THE SHOPS AT ONE PASEO
- Retail SF 96,000
- Office SF 286,000
- Residential 608 Units
Planned Opening Date 2019 and beyond
Consumer Profile Mass-market to upper- range local residents
ABOUT THE DEVELOPMENT
One Paseo, a 23-acre master planned development in Carmel Valley, will serve a variety of functions through a mix of uses: dining, shopping, residential, office and open plazas. As a mixed-use project, it will provide pedestrian-focused experiences, humanscale design, multiple access points and inviting public plazas to prioritize people and their experiences. Retailers that have been announced include International Smoke (a Michael Mina, Ayesha Curry project), Tocaya Organica, Sweetfin Poke, Shake Shack, Tender Greens, Parakeet Café, Ways & Means Oyster House, SoulCycle, Van De SAN DIEGO Vort, West of Camden and Whiskey x Leather. NEW DEVELOPMENT WATCH
Cushman & Wakefield | San Diego | 2019 7 SAN DIEGO FOOD & BEVERAGE
San Diego offers a diverse San Diego’s craft brewing industry continues to expand throughout the county. In 2017, there were 125 breweries, assortment of dining options to microbreweries and brewpubs – more than triple the match its eclectic population. amount in 2011. In addition to beer production, breweries that offer tasting rooms, bars, restaurants, and event Situated on the shores of the Pacific Ocean and in an spaces are becoming increasingly popular. While the ideal agricultural climate, San Diego has an abundance of trend is growing countywide, popular hubs for brewers locally grown fresh produce and freshly caught seafood— have been concentrated in Downtown, Miramar/Sorrento qualities that attract noteworthy chefs such as Richard Valley, and the along Highway 78 Corridor, known as Blais, Rick Bayless, Javier Plascencia and Brian “Hops Highway.” The trend has made its way up the coast Malarkey. to Oceanside, the gateway to San Diego, where several Hip and trendy pockets of eateries are scattered beer crawl itineraries offer fun dining experiences for both throughout San Diego County. Among these are the tourists and locals. Uptown neighborhoods of Banker’s Hill, South Park and North Park, which have turned into incubators for new restaurant concepts. Little Italy and the Gaslamp Quarter, two retail corridors located downtown, offer a collection of noteworthy and unique restaurants. Breathtaking waterfront restaurant views can be found in La Jolla and Del Mar. Historic Old Town and Liberty Station provide new perspectives to the history of San Diego. Old Town is comprised of over 25 restaurants, all influenced by the city’s Mexican Heritage. Liberty Station is an adaptive mixed-use project where several of the retail establishments are built inside of the former Naval Training Center San Diego buildings, maintaining the appearance of the historic structures.
Cushman & Wakefield | San Diego | 2019 8 SAN DIEGO FOOD & BEVERAGE MARKET OVERVIEW
KEY AREAS CONSUMER FOOD & BEVERAGE OPERATORS RENT FOR PROFILE INCLUDING 3,500 SQFT UNIT Gaslamp / East Locals, Tourists, Nobu, Tin Fish, Searsucker, Fogo de Chao, $39-$96 PSF Village Daytime Blind Burro, Union Kitchen and Tap, Business, barleymash, Half Door Brewing Co, Water Conventioneers Grill, OMNIA Nightclub
Little Italy Locals, Tourists Mona Lisa Italian Restaurant, Craft & $42-$96 PSF Commerce, NaPizza, Prep Kitchen, Buon Appetito, Davanti Enoteca, Bencotto, Monello, Underbelly, Juniper & Ivy, Kettner Exchange, Ballast Point Tasting Room & Kitchen, Herb & Wood, The Crack Shack, Little Italy Food Hall
Del Mar / Encinitas / Locals, Tourists, Kitchen 1540, Pacifica Del Mar, Chart House, $39-$105 PSF Solana Beach Daytime Business Ki's Restaurant, Pizza Port, The Fish Market, Sbicca, Blue Ribbon Artisan Pizza, Pacific Coast Grill, Jake's Del Mar, Poseidon Restaurant, Searsucker, Urban Plates, Snooze an AM Eatery, Market Restaurant & Bar, Pamplemousse, Addison Grand Del Mar
La Jolla / UTC Affluent Locals, AR Valentien, Galaxy Taco, El Pescador, $30-$60 PSF Tourists, Daytime George's At The Cove, Eddie V's, Business Whisknladle, Nine-Ten, Crab Catcher, Herringbone, The Cottage, The Marine Room, Brockton Villa Restaurant, Duke’s, Catania, Puesto, Truluck’s, Eureka!, Draft Republic, Season’s 52, PF Chang’s, BJ’s Restaurant & Brewery, Rock Bottom Brewery, True Food Kitchen, Shake Shack, Mendocino Farms, Philz Coffee
Uptown / Hillcrest / Locals Hash House a Go Go, Brazen BBQ, Urban $30-$48 PSF North Park Solace, Blind Lady Ale House, Uptown Tavern, Fig Tree Café, Buona Forchetta, Cucina Urbana, La Bonne Table, Great Maple, True North Tavern, Patio on Goldfinch, Cushman & Wakefield | San Diego | 2019 Banker’s Hill Bar, One Door North, Madison, 9 Encontro North Park, Dunedin SAN DIEGO FOOD & BEVERAGE MARKET OVERVIEW
KEY AREAS CONSUMER FOOD & BEVERAGE OPERATORS RENT FOR PROFILE INCLUDING 3,500 SQFT UNIT Liberty Station Locals, Tourists Tender Greens, Slater's 50/50, Fig Tree Café, $30-$48 PSF Corvette Diner, Stone Brewery World Bistro & Gardens, Con Pane, Solare Ristorante, Soda & Swine, Liberty Public Market, Fireside by The Patio, Luna Grill, Breakfast Republic, Fireside by the Patio, Five Guys, Moniker Genral, Officine Bunoa Forchetta, Pisco Rotisserie
Old Town Tourists, Locals Barra Barra Restaurant, Casa Guadalajara, $24-$60 PSF Casa de Reyes, La Piñata, Miguel's Cocina, Old Town Tequila Factory, El Agave, Café Coyote y Cantina, Fred’s Mexican Café, Rockin’ Baja Lobster, Harney Sushi, Pizza Bella Italian Bistro, Old Town Mexican Cafe
Oceanside Locals, Tourists Wrench and Rodent, Bagby Beer Company, $24-$51 PSF Flying Pig Pub & Kitchen, Local Tap House & Kitchen, Breakwater Brewing Company, Mission Ave Bar and Grill, PCH Bar & Grill, Pour House, Privateer, Legacy Brewing Company, Tap That, Oceanside Ale Works, Golden Coast Mead, 333 Pacific, Harney Sushi, Harbor Fish and Chips, Tin Fish
Cushman & Wakefield | San Diego | 2019 10 ERIKA SCHANKE Managing Director Americas Retail Services 1290 Avenue of the Americas New York, NY 10104, USA Tel: +1 212 841 5024 Mob: +1 404 680 4363 [email protected]
No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. © 2019 Cushman & Wakefield. All rights reserved.