The following represents a sampling of recent business activity in the City.
New name, new owner of Lexus
The Park Place Lexus Mission Viejo property and auto dealership business located at 28242 Marguerite Parkway was purchased by the Van Tuyl Group, Inc. and has been renamed South County Lexus at Mission Viejo. The new owners manage the largest group of privately held auto dealerships in the country.
The Van Tuyl Group will complete the approved plans for expansion, renovation and development in phases on the existing site. The first phase of construction starts next week and includes grading and adding 116 more parking spaces along on the northern part of the property.
The Van Tuyl Group also bought the property at 28402 Marguerite Parkway to accommodate additional premium, luxury auto sales. The company manages more than 65 dealerships in 10 states.
New businesses at The Shops at Mission Viejo
Four new stores will open this month and Arden B will reopen at The Shops at Mission Viejo after two months of construction to remodel the store.
The mall recently welcomed A California Christmas on Monday, and on Thursday, shoppers were abuzz over the grand opening of H&M and re-opening of Old Navy.
Vitamin World is expected to open November 10 and Love Sac will be open by the end of the month. Living Textiles is under construction and is expected to open in December. Shortly after the new year, American Eagle will begin construction to expand into the neighboring space between Ben Bridge Jewelers and American Eagle.
City’s retail sales grow 10.10%
Overall sales tax revenues for the second quarter 2010 (April-June) were up 10.10% compared to the same period last year. Sales tax revenues from auto-related sales grew by 14%; The Shops at Mission Viejo was up 1% (restaurant sales grew by 7%); the Mission Viejo Freeway Center sales tax performance improved by 5% and Kaleidoscope revenues increased by 9%. These four areas of the City’s retail sales base generate 45% of the total sales tax generation during the quarter.
