Monday, February 01, 2010

Capitola Mall - Occupancy Check


A year ago this blog covered the occupancy of the 586,000 sq. ft. Capitola Mall due to its loss of Mervyn's and the pending closure of Gottschalk's (more information).

One year later and the occupancy of Capitola Mall is still under scrutiny. Yet, the news is good. Occupancy has increased. Of the 96 potential stores, 8 are unoccupied (shown in red), leaving an 8.3% vacancy rate (or 91.7% occupancy rate).

Since January of 2009, Gottschalk's closed, Kohl's joined the mall, and 4 inline stores have opened. Even with just three anchor stores, it looks as if Capitola Mall will thrive as the dominate retail player in the Santa Cruz area.

Scott

3 comments:

Hushpuppy212 said...
This comment has been removed by the author.
Hushpuppy212 said...

IMHO, the best thing this mall has going for it its geography. It's the only mall of any size in Santa Cruz County (pop 250,000). Otherwise, shoppers have to drive 30+ miles over the mountain to San Jose (Valley Fair, Oakridge) or 30+ miles south to Monterey's Del Monte Center, which, while quite lovely, offers a more-complete Macy's, Banana Republic, and Pottery Barn, is still a long drive, parts of which are on a 2-lane highway. Capitola has a built-in clientele, and as long as they can maintain what they have, they should be okay. The nearest Target is 13 miles south in Watsonville, so if they could get Target into the old Gottschalk's space, it could really give the mall a boost.

Renee said...

The Target will be in at the Capitola Mall by the end of July 2012. Not much longer!