Orange County’s retail scene looks to be doing nicely despite the lukewarm economic recovery nationally, as our story on this week’s list of largest shopping centers and our 2013 Preview detail (both page 1). Any merchants enticed by the strong local trade have no shortage of possibilities when it comes to landing space in OC, including a prime spot in all of retail: the 300,000-square-foot Sears at South Coast Plaza. It’s one of 16 properties in OC that are owned by parent Sears Holding Corp. and listed as available for lease on the website of its real estate arm, SHC Realty. No word on terms, but the retailer has already shown a willingness to split space, with fast-fashion retailer Forever 21 taking a little more than 10% of the Sears at South Coast Plaza for the past two years. Sears also points out that it’s been a landlord on relatively small spaces for photo studios, H&R Block offices and its own optical brand for years. More recently, it has added grocers and fitness centers at some locations, either to mainline stores or nearby properties the retailer owns. The latest listings take the third-party approach up a notch, and the company says it is “open to all types of possibilities.” Among the other opportunities here: the Sears’ auto center properties next to its store at South Coast Plaza and the retailer’s mainline stores at the Brea Mall, Buena Park Downtown, Laguna Hills Mall, The Village at Orange and Westminster Mall. Other OC locations include Sears Outlets, a few more auto centers and some of its sister Kmarts. There’s a mix of 44 locations listed in L.A. County and hundreds more nationally. There’s been some talk of Sears running out of gas on its retail operations, as cheap-chic discounters such as Target and Walmart gobble up the middle market. Some speculate Sears could end up a REIT—and it would get off to a nice start with a prime chunk of South Coast Plaza in its portfolio …
Kudos and congratulations to the Employee Community Fund of Boeing Co. and Vanguard University in Costa Mesa, which have joined forces on efforts to help OC’s estimated 9,600 female veterans of the Iraq and Afghanistan wars transition back to civilian life. Boeing presented Vanguard with a 2012 Crystal Vision grant of $50,000 last week to help the school’s Global Center for Women and Justice and Veterans Resource Center develop a network of services for local women who served …
The recent bankruptcy filing by Larry Dodge will no doubt bring a touch of sadness to a lot of OC nonprofits, including the many that have benefited from his largesse over the years. Some now have outstanding pledges listed in the case by the Kansas City entrepreneur, who made a fortune there and has been one of the most generous donors around here for years, including a gift that put his name on Chapman University’s film school in Orange. Don’t assume the bankruptcy is the end of the story for Dodge, who obviously plays for the long-haul—the 74-year-old is the recent father of triplets …
Welcome aboard to Diane Dixon, recently hired senior vice president of corporate communications for Irvine Company. The Avery Dennison vet officially starts her new duties after the New Year.
