Cory Bilicko
Managing Editor
The days of fighting for parking spots at the local Trader Joe’s may soon be over.
Red Mountain Retail Group (RMRG), an Orange County-based real-estate asset-management and development firm, has closed escrow on the former Ralphs property at San Antonio Drive and Long Beach Boulevard in Bixby Knolls, according to 8th District Long Beach Councilmember Al Austin, who made the announcement Monday night. The 52,000-square-foot property has been uninhabited since the Ralphs store closed June 15, 2013.
“Today I facilitated a meeting between executives from RMRG and representatives from various City departments, including the City Manager’s Office, Economic Development and Development Services, as well as the Bixby Knolls Business Improvement Association, to discuss construction on the site for the new retail tenants coming later this year,” Austin stated. “When Ralphs closed, many of you shared your thoughts and ideas as to the type of businesses that you would like to see at this location. I am pleased to report that the businesses that RMRG has already secured for the site are in line with many of the most popular suggestions expressed at that time.”
According to the councilmember, among the new tenants that have signed leases to move to this site are: Trader Joe’s, which would relocate from its current location on Atlantic Avenue; Crunch Fitness; and Pet Food Express.
“This is good news and great progress for the Bixby Knolls community,” Austin said. “I look forward to the ground-breaking and ribbon-cutting ceremonies to come.”
Red Mountain Retail Group is based in Santa Ana with properties in seven states. They specialize in acquiring challenged shopping centers and rehabilitating and re-tenanting them with quality commercial businesses, Austin said.
Bob Gill, vice president of the Los Cerritos Neighborhood Association and whose neighborhood is just adjacent to the property, expressed enthusiasm about the sale.
“The Los Cerritos neighborhood is excited about the purchase of the old Ralphs store by RMRG and the announced tenants, including the relocation of Trader Joe’s,” Gill said. “Since the announcement, the local conversations I’ve had have been universally positive. The neighborhood is looking forward to supporting the new businesses and the rejuvenation of the retail corridor on Long Beach Boulevard.”
Blair Cohn, executive director of the Bixby Knolls Business Improvement Association, indicated that the purchase is a sign of growing interest in the community.
“We have to be thrilled that there are people who want to invest in Bixby Knolls,” Cohn said. “We haven’t seen a slowdown of interest in the last three or four years, which is great— new businesses, large and small.”
Cohn said there has been a concern among local residents as to what would happen with larger empty spaces like the former Ralphs property and the post office.
“It’s not doomsday,” Cohn said. “It’s just a matter of time. I think that there’s enough interest, and Bixby Knolls is on the radar now in the commercial, retail and broker communities that it’s just a matter of time. Now, I think we’re fortunate that these follks have come in, purchased it and they’re going to try to go as fast as possible, and they obviously want to find tenants that will meet the needs of the neighborhood.”
Cohn, who was able to sit in on meetings with Councilmember Austin and RMRG, said the involved parties have “gotten a lot of work already done,” but he added that there’s still room for more retailers.
“I think there’s going to be space for potentially two more retailers to come in,” Cohn said. “So they will be asking around— ‘What are the interests of the neighborhood?’— and see if they can get tenants for those.”
He said there is almost 8,600 square feet of retail space that is still available. “That can be cut up maybe three ways, maybe two ways, just depending on who they find and what the interests are.”
Cohn said an issue with the Ralphs grocery store is that it was “an island” at that location.
“With multiple retail, obviously that activates that whole center,” he said, adding that it does indeed appear it will be a center with more than one business. “I think, overall, it’s a sign of progress, and things are moving in the right direction here.” ß
An Orange County-based real-estate asset-management and development firm has closed escrow on this former Ralphs property at San Antonio Drive and Long Beach Boulevard, which has been uninhabited since June of 2013.
