More retail repositioning is happening involving larger retail chains. Higher costs of everything from labor to eggs to electricity have forced the closure of more restaurants and coffee establishments in San Diego. Fast food operators are bearing the brunt as the minimum wage has been raised to $20.00 per hour. Market Watch - Denny's Restaurants
The Case Shiller San Diego County market appreciation year-to-date, through July 2024. This table shows the annual market appreciation by year.
As Amazon and other vendors sell and ship prescription medications to your door, retail pharmacy storefronts are increasingly in trouble. Big box retailers such as Costco and Walmart also have in-house pharmacies that compete directly with neighborhood drugstores. Traditional neighborhood drug stores have experienced increased losses due to theft in the front-of-store general merchandise retail area. These changes are causing many locations to shutter.
Pharmacy closures happening all over the United States.
This is a very sad sign of the times - In-N-Out Restaurant to Close Up in Oakland. National retailers typically invest close to 2 million dollars for a state-of-the-art fast-food restaurant. Obtaining the permits for a restaurant site with multiple curb cuts and drive-through lanes can be a very time-consuming task because it impacts the traffic flow in the area. For a national retailer to walk away from a modern, profitable location due to crime and employee safety indicates a very serious problem. We are also seeing this in San Diego with Target opting out of a downtown San Diego location.
