- La Verne Chamber of Commerce
- Governor's Office of Business and Economic Development
- San Gabriel Valley Economic Partnership
- California Small Business Development Center - Inland Empire
- California Economic Summit
Development Area: Old Town La Verne
Old Town La Verne dates from the city’s founding in 1887 as a destination for the Santa Fe Railroad. In addition to a daytime population of 7,500 students at the University of La Verne, Old Town is home to diverse single family and multiple family housing opportunities. New housing echoes the Victorian and craftsman homes of Old Town’s 3rd Street. Old and new come together in the University of La Verne’s brand new suite-style 373-resident “Vista La Verne” Residence Hall, also home to the University of La Verne’s bookstore on the main floor. The heart of Old Town, D and Third Street, hosts the Thursday evening La Verne Family Festival and Farmers Market as well as six regional-scale events each year.
In addition to a variety of specialty shops, Old Town offers more than a dozen restaurants with a wide range of dining opportunities from date night at Cafe Allegro to the casual family atmosphere at Warehouse Pizza. Annual retail sales in the Central Business District area total $15.3 million and the retail environment is healthy, with fourth quarter 2011 sales up 10.7% over the prior year.
Development Area: Foothill Boulevard
A distinguished and beautiful stretch of America’s iconic Route 66, Foothill is a regional retail and entertainment destination enhanced by a program of public art and landscaped parkways that create an attractive and inviting ambiance for retailers.
- 1.4 million square feet of contiguous retail space over 175 acres, comparable to Rancho Cucamonga’s Victoria Gardens at 1.4 million square feet over 147 acres.
- Annual sales of $212 million.
- 27,500 cars per day, fed by a major interchange on the recently extended 210 Freeway.
- A variety of available footprints from 1,200 to 30,000 square feet.
- Anchor tenants: Edwards Cinemas, Kohl’s, LA Fitness, Staples, Marshalls, Michaels, Office Depot, Orchard Supply Hardware, Ross Dress for Less, Stater Bros., Target, and Vons.
Primary Trade Area Highlights
2010 Consumer Spending
|Segment||Per Household||Cumulative Market|
|Apparel||$ 2,043||$ 114 million|
|Computers||$ 268||$ 15 million|
|Entertainment/Recreation||$ 3,981||$ 221 million|
|Food Away from Home||$ 3,810||$ 212 million|
|Household Furnishings/Equipment||$ 2,248||$ 125 million|
|TV/Video/Audio||$ 1,430||$ 80 million|
|All Retail Goods||$ 28,243||$ 1.6 billion|
The 33.6-mile trade area is a $1.6 billion dollar market that is notably underserved, despite existing retail development in La Verne and its neighboring communities. Sales tax leakage for both the city and the trade area demonstrates a demand that far outstrips the retailers present in the marketplace. This gap represents a $153 million opportunity for site selectors seeking locations in the furniture and home furnishings, electronics/appliances, building materials/gardening, health/personal care, clothing/accessories, and sporting goods/hobbies sectors. The major tapestry segments for these consumers are Pleasant-Ville, Wealthy Seaboard Village, and Urban Villages.
Retail Sales Leakage
|Furniture/Home Furnishings||$ 40.8 million||54.1|
|Electronics/Appliances||$ 25.1 million||42.0|
|Health/Personal Care||$ 16.8 million||25.3|
|Clothing/Accessories||$ 49.9 million||40.4|
|Sporting Goods/Hobbies||$ 8.6 million||25.3|
Sources: All data derive from the following sources: Esri Business Analyst, HdL Companies, Caltrans
* The leakage factor is a measure of the relationship between supply and demand that ranges from +100 (total leakage to -100 (total surplus)