In a testament to the robust appeal of bricks-and-mortar retail, the Canyon Springs Marketplace in Riverside, California, is now 100% leased! This achievement demonstrates that, despite the rise of online shopping, well-positioned and well-maintained physical retail centers continue to attract consumers and retailers alike.
Over the past eighteen months, several high-profile retail tenants have executed leases at Canyon Springs Marketplace, contributing to the Center’s full occupancy. With a grand opening in late 2022, Nordstrom Rack offers high-end fashion at discounted prices. In June, Urbane Cafe opened for business with its selections of gourmet sandwiches and salads, filling a void in the food offerings at the Center. Later in the same month, the international beauty supply powerhouse Sephora welcomed customers in its newly built-out 4,000 square-foot store. Finally, Boot Barn, the Western apparel chain based out of Irvine, signed a 10-year lease at the end of June for 18,300 square feet of space. With tenant improvements currently underway, the Center’s newest retailer plans to open for business later in 2023.
The leasing success at Canyon Springs Marketplace and its 100% occupancy achievement underscores the Center’s strategic appeal in the Inland Empire region. Brad Umansky, president of Progressive Real Estate Partners and the lead broker on all of the recent Canyon Springs deals, pointed out, “There is significant demand for space in ‘Best in Class’ shopping centers in SoCal’s Inland Empire region… excellent co-tenancy, outstanding freeway visibility, and impressive demographics made Canyon Springs Marketplace very attractive to all these retailers.”
“After significant turmoil in the retail leasing environment during the Covid-19 years, Canyon Springs Marketplace stands as a model of retail resilience”, commented Amy Goldfarb, Asset Manager for the Center. She continues, “Amid evolving consumer habits, we have managed to attract an exciting mix of quality retailers to the Center, striking a positive note for the future of physical retail spaces in the heart of Riverside.”