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Tuesday, Jul 16, 2024
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Retail Sites Easily Make Substitutions for Sporting Goods Losses

It didn’t take long for three North County retail centers to fill holes left by last year’s extinction of two long-struggling U.S. sporting goods chains, Sports Authority and Sport Chalet.

Brokers at Cushman & Wakefield recently reported that housewares seller HomeGoods and discount grocer Aldi later this year will fill the approximately 46,000-square-foot space vacated by Sports Authority at the Escondido Valley Center retail property, majority-owned by Paragon Commercial Group, at 1346-1366 W. Valley Parkway.

Cushman brokers Bruce Schiff and Phil Lyons, who represented Paragon, noted in a statement that the new tenants would give a “tremendous boost” to a center that already includes Staples, BevMo, Five Guys Burgers and Fries, and FedEx Office at the well-trafficked Escondido intersection of West Valley and Auto parkways.

In Oceanside, Dick’s Sporting Goods plans a December move-in after signing a 10-year lease for a 41,375-square-foot space that formerly housed Sports Authority at Pacific Coast Plaza, at 2110-2160 Vista Way. CoStar Group said John Riddles of CBRE Group Inc. and Ron Pepper of Retail Insite represented the tenant, and the property owners — Citivest Commercial Investments and Angelo, Gordon & Co. — were represented by Stewart Keith and Bradley Williams of Flocke & Avoyer Commercial Real Estate.

In San Marcos, Orchard Supply Hardware, which sells garden and other home-improvement items, has signed a lease for a 40,000-square-foot spot vacated by Sport Chalet at the Grand Plaza retail center, at 177 S. Las Posas Ave. This is a 20-year, $17 million lease, according to Bryan Cunningham of Flocke & Avoyer, who represented the landlord; Orchard Supply was represented by Nancy Johnson of Esptein & Associates.

Thanks in part to a tight retail vacancy climate in San Diego County, it took a year or less for most of the former sporting goods spaces to be spoken for locally, after both chains went out of business.

Earlier this year, the large former Sports Authority in Mission Valley was filled by HomeGoods and its sister retailer, clothing seller T.J. Maxx, both owned by TJX Cos. of Massachusetts. Dick’s Sporting Goods, based in Pennsylvania, swooped in for several former Sports Authority sites nationally and locally, including one at Carmel Mountain Ranch.

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