The economy is picking up and Black Friday was kind to local retailers. Yet they’re still likely to be cautious about plans for growth and store openings in 2011.
There’s a lot of empty retail space in the county, but not a lot that fits retailers’ needs, said Robert Pinon, a Huntington Beach-based vice president of corporate retail solutions for Chicago-based real estate brokerage Jones Lang LaSalle Inc.
Pinon said he’s working with 7-Eleven Inc., which has its regional headquarters in Brea, and Bridgestone Corp.’s Firestone brand on finding store locations outside of Orange County.
“Retailers have really taken a step back and are becoming more methodical,” Pinon said.
During the boom, retailers paid large sums just to secure locations, he said. Poor decisions were made to meet corporate goals.
Other retailers looking at expanding in Orange County, according to Pinon: Best Buy Co.; CVS Caremark Corp.; franchisees of Virgina’s Five Guys Enterprises LLC, owner of Five Guys Burgers & Fries; and Phoenix-based Sunflower Farmers Market.
Nordstrom Inc. also is looking at locations for Nordstrom Rack stores along with one planned for The Block at Orange in 2012.
Lexus Dealer Sold
Irving, Texas-based Van Tuyl Group Inc. recently bought Park Place Lexus in Mission Viejo and renamed the dealership South County Lexus at Mission Viejo.
Van Tuyl Group plans to expand and renovate the dealership, according to city officials. The upgrades, which include adding 116 more parking spaces, began in November.
Former owner Park Place Dealerships of Dallas, bought the business in 2007, just as the recession was taking hold.
Van Tuyl Group manages about 65 dealerships.
Audi at the Airport
Audi of Mission Viejo recently hosted about 200 guests for a local launch of the redesigned 2011 Audi A8 sedan at BBA Aviation’s Signature Flight Support hangar at John Wayne Airport.
The automaker, part of Germany’s Volkswagen AG, is aiming to bolster its luxury credentials. Audi is one of the top five luxury brands nationally behind Cadillac, Lexus, Mercedes-Benz and BMW.
In OC, Audi trails Mercedes-Benz, Lexus and BMW in luxury auto sales. Audi sold 167 autos in the county in October. Mercedes-Benz, the top luxury brand here, sold 657 autos in October.
The A8 interior is designed with leather and wood has a sound system with 19 speakers. Other luxury touches: a gearshift inspired by a yacht throttle and a seat that moves in 22 different directions.
The retooled A8 goes for $79,000, according to auto researcher Edmunds Inc. of Santa Monica.
Mission Viejo Retail Rebound
The city of Mission Viejo reports that second-quarter sales tax revenue, the most recent available, rose 10% from a year earlier.
The gains came mostly from a boost in sales at the city’s auto dealerships, three big shopping centers and restaurants.
Revenue from auto-related sales was up 14%, according to the city. The Shops at Mission Viejo saw a 1% rise in sales. Mission Viejo Freeway Center revenue was up 5%. The Kaleidoscope Retail Center revenue rose 9%.
All of that shopping was apparently good for the appetite, as restaurant sales rose by 7%.
The city says that auto dealers and the three big malls account for 45% of its sales tax revenue.
Fashion Island Scorecard
Irvine Company recently finished its $100 million upgrade at Fashion Island.
It’s also restocked the mall with tenants in the past year: Nordstrom, Jigsaw London, Inglot Cosmetics, Splendid, Elie Tahari, Melvita, Fringe, Ecco, Kreiss, Jonathan Adler, Newport Cottages, Fluxus, Michael Nusskern, Malia Mills, Arden B., True Food Kitchen and Rustica.
Forever 21 also expanded to two stories.
Gone from Fashion Island: This Little Piggy Wears Cotton, a kids clothing store.
Seasonal stores at the Newport Beach mall: Nirali women’s boutique, Sheep Dogs, which sells Ugg boots, and Mail Room, a gift wrap shop.
Bits and Pieces
Irvine Spectrum Center is opening two restaurants in the spring: Wood Ranch BBQ & Grill and dim sum restaurant Capital … French retailer Anne Fontaine opened a 1,500-square-foot store at South Coast Plaza with a look similar to its New York flagship by architect Andree Putman. Anne Fontaine now has 68 boutiques worldwide … South Coast Plaza’s temporary stores for the holidays include: FAO Schwartz, Mrs. Beasley’s gourmet bakery, Brookstone and The Art of Shaving … Jazz musician Dave Koz is set to bring along his saxophone, his new CD and his wine (apparently, he’s a winemaker) for an evening appearance at Whole Foods Market at Bella Terra mall in Huntington Beach on Friday.
