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Despite Rocky Economic Times, City's Business Occupancy Is High

Laguna Niguel has "for lease" signs all over town but the city development director says the overall picture is good.

Businesses come and go, and while Laguna Niguel has had its fair share of both in this economic downturn, the occupancy rate is at 91 percent.

"We are very happy with this number," said

Fox said the occupancy rate was last calculated Sept. 30. 

"Unfortunately, we do not have any comparable data from last year at this time, but talking with some of the major shopping center owners, they are indicating that there is a lot more interest to fill vacancies as they come up," he said.

"If you take the former and which are our largest vacancies, out of the mix, we are looking at an occupancy rate close to 97 percent, which is really good," he said.

Fox mentioned several new businesses that have recently opened in the city and that Laguna Niguel Patch has reported on in the last few weeks. For example, in September, opened in the former Alessio's/Acapulco space in Town Center; is under construction in the former Blockbuster space in the Grove Center at Crown Valley Parkway and Golden Lantern. Also,  a new luxury movie theater, has started to remodel the former Edwards Theaters in the Ocean Ranch Village II shopping center.  continues to be committed to taking over the former Tall Mouse space at Aliso Creek Village and has recently submitted its final improvement plans to the city. 

"We also want to encourage all our residents to shop local this holiday season.  When you shop and dine in Laguna Niguel, you not only support your local businesses, but you support your city too," Fox said. "One cent of sales tax for each dollar spent in Laguna Niguel comes back to the city’s general fund which goes to support services such as public safety, street and park maintenance, and a variety of other city programs."

If you are not shopping in Laguna Niguel, your money is going to another community, he added.

"With everything you need right here in Laguna Niguel, you can save time and money with shorter trips to reduce traffic and save gas," Fox said.



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