Capitola Mall Holding Its Own

Another mall to keep an eye on is Capitola Mall in Capitola California.
This roughly 586,000 sq. ft. enclosed mall is a dominate player in the Santa Cruz region, but lost Mervyn's late last year. With the impending Gottschalk's failure, the mall will have lost two of its four anchor tenants.

The above image, taken today from Maerich's Web site, shows the mall with 96 potential stores. At this time, 12 space are unoccupied (in red), leaving a 12.5% vacancy rate. Anything to be concerned about at this time? Not so much.

We'll keep a close eye on this center for changes in occupancy.

Scott