Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.
Issue link: https://westernrealestatebusiness.epubxp.com/i/888015
www.REBusinessOnline.com Western Real Estate Business • October 2017 • 33 Potash mining is another sup- portive pillar of growth in Carlsbad. The area boasts the largest potash reserves in the United States. Pot- ash is a series of mined and manu- factured salts that contain potassium in water-soluble form, an ingredient often found in fertilizer used for ag- ricultural purposes in several coun- tries. Carlsbad exports the product to international buyers with its local potash or potash subsidiary industry employing about 1,000 people. Rounding out Carlsbad's industri- al market is aviation, manufacturing and nuclear businesses, including the world-renowned Waste Isolation Pilot Plant (WIPP), the only licensed and permitted nuclear waste re- pository in the Western hemisphere. Needless to say, the diversity of in- dustrial businesses paints a strong picture of the Carlsbad market. With industrial stability, the mar- ket stands to gain in the commercial environment. More than 24 national- ly and regionally branded businesses have opened in Carlsbad since 2008. This includes seven new hotels, five restaurants and 12 retail stores. The local business front has grown expo- nentially as well, with a multitude of new businesses opening over the same period. This growth has also led to the revitalization of older facilities into new, more modern buildings that house several of the area's new re- tail businesses. This was the case at a one-acre site that previously housed a grocer and furniture store, but had been vacant for years. The exte- rior was falling to disrepair, and the parking lot was being used for indi- vidual used car sales. In short, it was blighted. Luckily, a firm came into Carlsbad looking for a suitable site it could rehabilitate and convert into a new four-tenant storefront that would in- clude Ross, Maurices, Melrose Fash- ions and Famous Footwear. The $5 million investment is now known as Carlsbad Pavilion. This is just one of several sites that have been either renovated or are currently undergoing construction. Evidence of Carlsbad's past is slowly being recycled into new storefronts, exemplifying the lifecycle of a grow- ing market in this desert oasis. Ontario, Calif. The City of Ontario has been fol- lowing the changing nature of the retail environment and works with key brokers, stakeholders and retail- ers in the area to analyze this trend. The city's mindset has changed to fo- cus on quality of life, creating walk- able and urban lifestyle districts that are sustainable for growth in the city. The city has seen an increase in visi- tors and foot traffic by creating out- door public spaces like the Ontario Town Square in downtown. The city recently partnered with Ontario Mills Mall to create an ad- ditional 80,000 square feet of retail named Fashion Alley to the center. Ontario Mills is California's largest mall destination with more than 2 million square feet of retail that at- tracts more than 24 million visitors each year. The recent addition now houses a California Welcome Center, as well as a variety of name-brand outlet stores and restaurants like Coach, Tommy Hilfiger, Nautica, The North Face, Original Penguin, Uniq- A blighted building that previously housed a grocer and furniture store was recently renovated in Carlsbad. The result is the $5 million as Carlsbad Pavilion that features tenants like Ross, Maurices, Melrose Fashions and Famous Footwear.