The Orange County retail climate is anticipated to improve in 2011, according to one local analyst. Several national companies will increase their presence locally: Forever 21, Walmart, Target and Ross. It is said that 2011 will bring in a better climate for retail properties in O.C. with modest sales growth of 3 to 5 percent overall. Watch out for these stores throughout Orange County this upcoming year.
Forever 21 will be taking over the 98,568 square-foot former Saks Fifth Avenue at The Shop at Mission Viejo as well as taking over part of the upper and lower levels of the Sears store at South Coast Plaza. Look out for a wider array of clothing for woman as well as clothes for men, more accessories and other merchandise categories.
Walmart will be opening a second store in Anaheim across from Orangefair Marketplace. This Walmart will be a super-center, open 24 hours and will span about 100,000 square feet and is hoping to open this summer.
Also coming up this year in San Clemente will be a 142,000 square-foot Target which is scheduled to openthis year on Avenida Vista Hermosa.
Ross Stores Inc. has signed a 10-year lease to open a 21,000 square-foot Dd’s Discounts in Anaheim. The store is a smaller off-price concept that targets households with more moderate incomes than Ross customers. The merchandise departments and categories are generally similar to those of Ross, but offer a different mix of brands. This will be Orange Countys only Dd’s Discounts.
Fashion department stores such as Macy’s, Nordstrom and Bloomingdale’s will continue to improve their merchandising. It is said that many shoppers will transition back to higher quality stores as they have done the discount thing and now want more than the discounters can offer.
And thank you for making me Your Orange County Real Estate Connection.
Michael Caruso, Broker ABR ABRM CLHMS CRB CRS GREEN GRI
Past President, Orange County Association of Realtors (949) 753-7900