Ralphs Encino Closing Jan 31

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CalItalian
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Ralphs Encino Closing Jan 31

Post by CalItalian » January 9th, 2020, 9:08 am

Rick Caruso must really have wanted Ralphs out. This is one of Ralphs top locations.
https://www.dailynews.com/2020/01/08/ra ... lose-soon/

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Re: Ralphs Encino Closing Jan 31

Post by klkla » January 9th, 2020, 6:41 pm

This store opened across the street from Gelson's corporate office and one of their best stores just after Ralphs poached some of their best executives to help run the then new Ralphs Fresh Fare format.

On the one hand Gelson's is probably glad to have them gone but it will be interesting to see who takes it over. Getting this location would be a coup for either Whole Foods or Pavilions. It would also be ironic if Gelson's themselves took over the location. Their store across the street was the second store built in 1960 and is their oldest continually operating unit and is showing it's age.

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Re: Ralphs Encino Closing Jan 31

Post by arizonaguy » January 9th, 2020, 8:13 pm

I'm curious if the new tenant could be Amazon's new grocery concept.

I know that they were looking at getting a number of locations under contract throughout the LA area.

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Re: Ralphs Encino Closing Jan 31

Post by klkla » January 9th, 2020, 8:52 pm

arizonaguy wrote:
January 9th, 2020, 8:13 pm
I'm curious if the new tenant could be Amazon's new grocery concept.

I know that they were looking at getting a number of locations under contract throughout the LA area.
That's definitely a possibility although I would think that the neighborhood demographics would be better suited for a Whole Foods.

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Re: Ralphs Encino Closing Jan 31

Post by storewanderer » January 9th, 2020, 10:44 pm

Not too far to the next nearest Ralphs. Surprising they would not defend this location better.

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Re: Ralphs Encino Closing Jan 31

Post by veteran+ » January 10th, 2020, 7:34 am

Anyone know how large this store is?

If it's BIG then I doubt Gelsons will move in.

I don't believe they are doing that well with the large format stores they acquired.

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Re: Ralphs Encino Closing Jan 31

Post by trainman » January 10th, 2020, 10:58 am

klkla wrote:
January 9th, 2020, 6:41 pm
Getting this location would be a coup for either Whole Foods or Pavilions.
This location is only about two miles from the once and future Pavilions in Sherman Oaks at Ventura and Kester (although to be fair, that's on the opposite side of the 405 freeway, which is a huge psychological barrier).

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Re: Ralphs Encino Closing Jan 31

Post by CalItalian » January 10th, 2020, 2:24 pm

veteran+ wrote:
January 10th, 2020, 7:34 am
Anyone know how large this store is?

If it's BIG then I doubt Gelsons will move in.

I don't believe they are doing that well with the large format stores they acquired.
The entire center is 95,000 sq. ft. and the only other tenant of any size is a CVS. Definitely well north of 50,000 sq. ft. https://caruso.com/our-portfolio/encino-marketplace/

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Re: Ralphs Encino Closing Jan 31

Post by klkla » January 10th, 2020, 5:40 pm

trainman wrote:
January 10th, 2020, 10:58 am
This location is only about two miles from the once and future Pavilions in Sherman Oaks at Ventura and Kester (although to be fair, that's on the opposite side of the 405 freeway, which is a huge psychological barrier).
Yeah, the freeway makes a huge difference. In addition the stores serve two completely different communities. Two miles sounds like a short distance but with L.A traffic, especially on Ventura Blvd., that can be a half hour in each direction during busy periods.

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Re: Ralphs Encino Closing Jan 31

Post by klkla » January 10th, 2020, 5:44 pm

CalItalian wrote:
January 10th, 2020, 2:24 pm
The entire center is 95,000 sq. ft. and the only other tenant of any size is a CVS. Definitely well north of 50,000 sq. ft. https://caruso.com/our-portfolio/encino-marketplace/
According to that site the center opened in 1994. If Ralphs' lease expired last year that means they had a 25 year lease, which is normal but I'm surprised they didn't have any five year options, which is a standard practice for grocery store leases.

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