October 22, 2020 Breaking News, Latest News, and Videos

Mixed Views on Santa Monica Place Sales:

Santa Monica Place reopened in August of 2010 after a $270 million revamp, a year that saw only a handful of shopping centers open across the nation, which was largely attributed to the economic climate. As the one-year anniversary of its reopening nears, some of its retailers have reported business at the revamped shopping center is a challenge.

“I need at least a year in a location to really see how things are going,” said Fraiser Ross, owner of Kitson and Kitson Kids at Santa Monica Place. “I did well at Christmas – even during the seven days of torrential rain and the opening was a boon.”

Ross owned Kitson on the Third Street Promenade prior to Santa Monica Place’s reopening. He also has other stores in Los Angeles. He noted that business picked up in late spring and he expects summer sales to be exceptional.

However, he is still trying to find the right merchandise mix for this mall for these tough times. He is considering a mix of half luxury and half general merchandise. His Santa Monica stores currently carry merchandise for every price point because the mall gets customers from every demographic. “I thank god for the tourists in these challenging times,” he said.

Ross thinks it’s ridiculous to have the City raise the sales tax a half-cent back in April and require people starting in September to have to use recycled bags. “This is the wrong time to demand this kind of thing in this kind of economy for small business,” he said.

“There is not the traffic I expected in SMP,” said Michael Alnabolsi, owner of Sea of Silver, who also made the move Santa Monica Place after 18 years of operating his family-owned business on the Third Street Promenade. Alnabolsi finds business at Santa Monica Place to be inconsistent and its higher end clientele often ask for different merchandise than he offered on the promenade. His store currently offers merchandise ranging in price from $50 to $600.

Repeat customers from the promenade and their referrals keep Sea of Silver afloat. Alnabolsi also said he wishes the shopping center would direct more advertising to tourists.

Macerich, the company that owns Santa Monica Place, paints a very different picture on sales at the revamped mall.

“Santa Monica Place is a great success and it has very strong foot traffic,” said Bob Aptaker, the Vice-President of Development for Macerich. Aptaker predicts that the shopping center’s strongest season will be in the summer. Aptaker also mentioned that there is has been very positive feedback from social media and the retailers. In his view “the reason people come to the mall is not only for the retail offerings but also for the experience.”

Aptaker points that the previous incarnation of Santa Monica Place had its sales peak in 1999, before Macerich bought it. “However, it is doing much better today than any time in the past,” he said. Since its opening only one store, E5H, has closed and another retailer quickly filled its space for temporary use.

Jennifer Taylor, a senior development with the city of Santa Monica’s economic development team, explained that for the fourth quarter of 2010 Santa Monica Place provided eight percent of Santa Monica’s taxable sales. In the same quarter in 2006 and 2007, the mall provided only three percent of the city’s taxable sales, but at that time there were many empty spaces in the mall.

Taylor also said the shopping center’s sales for the fourth quarter of 2010 were $52 million, more than half the total from adding the total sales of Santa Monica Place and the Third Street Promenade together. That total was $92 million.

“Santa Monica Place is doing well because its dining options helped fill a void,” Taylor said. Santa Monica Place’s restaurants can accommodate big groups, which is considered important for tourism and for corporate events and parties. The mall also contains more shopping options for locals and visitors.

in News
Related Posts

LA County Says Younger Adults and Teenagers Are Driving COVID-19 Cases

October 20, 2020

October 20, 2020

68 percent of new cases among people between ages of 12 and 50 By Sam Catanzaro Los Angeles County health...

Santa Monica Has Issued Over 40 Face Covering Citations

October 20, 2020

October 20, 2020

City expanding COVID-19 compliance efforts with the addition of “Health Ambassadors”  By Sam Catanzaro The City of Santa Monica says...

Grand Jury Indicts Former Angel Employee in Tyler Skaggs’ Fatal Overdose

October 19, 2020

October 19, 2020

Fort Wayne grand jury indicts Eric Prescott Kay on drug distribution and drug conspiracy charges By Sam Catanzaro A federal...

YogaWorks Studios Closing Amid Pandemic: Santa Monica Beat – October, 19, 2020

October 19, 2020

October 19, 2020

Local news and culture in under 5 minutes. * YogaWorks Studios Closing Amid Pandemic * Carjacking Suspects in Custody All...

Edify TV: More Bike Lanes for Westside

October 19, 2020

October 19, 2020

A Westside city is adding more miles of protected bike lanes. Learn more in this video made possible by Santa...

Outgoing Santa Monica Police Chief Set to Receive Nearly $100K of Severance Pay

October 19, 2020

October 19, 2020

Santa Monica City Council approves retirement agreement for outgoing chief Cynthia Renaud By Sam Catanzaro Santa Monica’s outgoing police chief...

Intravenous Vitamin Therapy: A Natural, Effective Solution for the Flu

October 19, 2020

October 19, 2020

By Dr. Mahboubeh Hashemi, ND and Dr. Matthew Cavaiola, ND  As fall and winter are fast approaching, many people, and...

Edify TV: Deal to House Homeless People Near Freeways

October 18, 2020

October 18, 2020

After months of negotiations, the City and County of LA reached a $300 million deal to house thousands of homeless...

Santa Monica’s Police Chief Retiring

October 16, 2020

October 16, 2020

SMPD Cynthia Renaud announces retirement, to be replaced by former Chief Jacqueline Seabrooks By Sam Catanzaro Santa Monica has announced...

Virtual Staging Changing The Way We Sell Property?

October 16, 2020

October 16, 2020

Today on Westside Cribz, Chuck Lorre buys his neighbors home, Rage Against the Machine drummer Brad Wilk selling his Santa...

O.C. Man Faces Federal Charges for Allegedly Setting SMPD Car on Fire

October 16, 2020

October 16, 2020

Nathan Wilson, 27, faces up to 20 years in prison An Irvine man was taken into federal custody this week...

Santa Monica Spa Owner Admits Price Gouging in Sale of Scarce N95 Masks

October 15, 2020

October 15, 2020

Niki Schwarz, owner of Tikkun Holistic Spa, pleads guilty to federal charges A Santa Monica day spa owner was charged...

Council Challenger Earns Endorsement After Coming Out Against Controversial Project: Santa Monica Beat – October, 15, 2020

October 15, 2020

October 15, 2020

Local news and culture in under 5 minutes. * Council Challenger Earns Endorsement After Coming Out Against Controversial Project *...