National Home Furnishings Chain Signs Retail Lease in Los Angeles Area – CBRE
18 Nov 2020
Los Angeles – CBRE announced that national home furnishings store Mitchell Gold + Bob Williams has signed a 15,000 square-foot retail lease at Marketplace at Oxnard in Oxnard, Calif. for their first West Coast outlet. The retailer will be joining high-end furniture and home-furnishing outlets Design Within Reach and Restoration Hardware at the project.
CBRE’s Larry Tanji represented the landlord, a local investor, in the transaction. Mitchell Gold + Bob Williams was self-represented.
Located at 1889 Ventura Boulevard, Marketplace at Oxnard is a high-end furniture outlet destination anchored by national retailers Restoration Hardware and Design Within Reach and a regional furniture dealer, A Royal Suite Home Furnishings. The retail center is located between Los Angeles and Santa Barbara along U.S. Route 101 and sits adjacent to Costco.
“Due to the centralized location of Oxnard, reasonable pricing for available properties and the strong sales of existing national credit tenancies, we view this area as being in a strong position to absorb additional demand of both national and regional retailers with a desire to service the Ventura County Trade Area,” said Tanji. “The new outlets are likely to draw high-end shoppers as they offer merchandise and pricing unique to our trade area and not always available online.”
COVID-19 has created a strong demand for home furnishings as consumers look to make their homes more functional and comfortable during the pandemic, according to CBRE research. The Marketplace at Oxnard is positioned well to capture this increased demand with its strong tenant roster of national and regional furniture dealers, location in the center of the Ventura County trade area, and visibility form US Route 101.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.