Developer announces first retailers for El Paseo Village and expansion plans for The Gardens on El Paseo

Public Record, The, Jul 22, 2008 by Marra, Bob

Davis Street Land Company continues to add to the luxury retail amenities in Palm Desert with its development of a new mixed-used center, El Paseo Village, and the expansion of The Gardens on El Paseo.

A September, 2008 ground breaking is planned for El Paseo Village, a 69,500-square-foot retail, restaurant and office enclave located next to Davis Street's existing shopping center: The Gardens on El Paseo. El Paseo Village will be home to 10 retailers and restaurants including stores new to the Desert such as Mastro's Steakhouse, Juicy Couture, Kate Spade, bebe, Lucky Brand Dungarees and Janie & Jack. In addition, Banana Republic will relocate and expand its existing store from The Gardens on El Paseo to El Paseo Village.

At The Gardens in 2009, Louis Vuitton will be opening its first boutique in the desert and Saks Fifth Avenue will be expanding its existing store by adding 27,000 square feet. The larger Saks Fifth Avenue store will provide the retailer with the much needed additional floor space to feature new designer merchandise.

"We are very pleased to announce the development of El Paseo Village and expansion of The Gardens," said Robert Perlmutter, managing partner of Davis Street Land Company. "These will be great additions to the Palm Desert marketplace and illustrate the underlying strength of this particular retail destination during a period when many other retail environments are challenging."

Davis Street anticipates El Paseo Village will build on the success enjoyed by retailers at The Gardens, which generates sales in excess of $650 per square foot.

Enhancing the "Rodeo Drive of the Desert"

As part of Davis Street Land Company's commitment to sustainability, El Paseo Village is being designed to achieve LEED (Leadership in Energy & Environmental Design) Silver Certification from the U.S. Green Building Council (USGBC).

The development of El Paseo Village will include 36,000 square feet of ground floor retail space fronting El Paseo Drive. Two featured restaurants, including Mastro's Steakhouse, totaling 18,000 square feet are planned on the second level. The restaurants will each offer terraced seating overlooking El Paseo Drive, further enhancing the boulevard's reputation as "The Rodeo Drive of the Desert."

An additional 15,500 square feet will be developed as Class A office space on the second level with convenient access to deck parking located behind the office and retail space. Office space is being leased by Marta Ward, Coldwell Banker Commercial, Lyle & Associates.

Mastro's Steakhouse will open in an 8,600-square-foot space on the east upper level of El Paseo Village.

"We are excited to bring the Mastro's experience to Palm Desert and join this group of luxury brands at El Paseo Village," says Tom Heymann, President and Chief Executive Office, Mastro's Restaurants, LLC.

Six Retailers Sign Up for El Paseo Village's Retail Space

Six leading fashion retailers have already signed up for retail space at El Paseo Village. Juicy Couture will open its new 2,600-square-foot store on the east corner of the development across from J.Jill at The Gardens on El Paseo.

The 1,500-square-foot Kate Spade store will offer customers its timeless collection of products from handbags, shoes and glasses to paper and beauty products.

Women's fashion retailer, bebe, will open a 3,100-square-foot store between Kate Spade and Lucky Brand Dungarees. The new store will showcase the retailer's full women's collection.

Lucky Brand Dungarees' 2,400-square-foot store will offer its classic line of denim jeans and jackets, pants, shorts, casual shirts, trendy accessories, and tops for women and men providing a youthful, refreshing addition to the tenant mix at El Paseo Village.

Offering distinctive, finely crafted clothing and accessories from infants to children aged 6, Janie & Jack will open a 1,200-square-foot upscale children's apparel store nearby.

In addition, Banana Republic will build on the momentum of its success at The Gardens by moving into expanded space at El Paseo Village, next to Kate Spade in November 2009.

Saks Fifth Avenue Expands & Louis Vuitton To Open at The Gardens on El Paseo

Saks Fifth Avenue, the only luxury department store in the Coachella Valley market, will expand its presence at The Gardens by expanding its 50,000-square-foot store to 77,000 square feet. In addition to expanding its square footage, the existing store will be completely remodeled. The two-story, 27,000-square-foot expansion, scheduled to open in November 2009, will double the size of its men's department and offer all customers a wider array of contemporary apparel, shoes, handbags, jewelry and other accessories for both women and men.

"The planned expansion of our Saks Fifth Avenue Palm Desert store is consistent with our strategy of focusing our resources on existing stores in order to enhance our sales productivity. Palm Desert is a great market for us, and we are eager to increase our presence there," commented Steve Sadove, chairman and chief executive officer of Saks. "With a 77,000 square foot showcase store, we will be able to enhance our distinctive roster of designer collections and service offerings to better serve our many loyal customers in the area."