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Three months after the closing of the Blockbuster store in the Malibu Colony Plaza, little more has been done to the now vacant building other than a swift clean-up of the interior. However, the inactivity hasn’t stopped rumors among Pepperdine students and local business owners over the future tenants of the unoccupied building.
Darrin Jolas, leasing agent for the Kroenke Group, which owns the shopping center, said that once the company has a definite tenant and lease terms finalized they will reveal the information regarding the new business.
“We have a plan, but we are not disclosing it, there are competing shopping centers in the area and we have to take that into consideration,” Jolas said.
He also said that when considering their customer base, Pepperdine students are considered an important part of the Malibu community.
The Malibu Colony Plaza Blockbuster store closed its doors to customers on Jan. 13 to the dismay of many Pepperdine students who used the movie-rental company on a regular basis. With the plaza coming under new ownership, Blockbuster was unable to reach the new lease terms, taking into consideration the rising cost of property value in California and the Malibu area, making the shopping center sought-after real estate.
Pepperdine students are skeptical about the need for a clothing boutique, such as the speculated Gucci, rather than a more student-centered business.
“It’s not something we necessarily need, but it’s Malibu,” freshman Jennifer Young said. “It seems like an odd place to put a Gucci. It might be a good place to star-search, but I don’t think they’d rather go to a store in Malibu than somewhere else.”
Other students, while they mourn the loss of Blockbuster, are looking forward to the possibility of something new in Malibu.
“Another restaurant would be good, maybe a Mexican one,” senior Elizabeth Metcalf said. “Something to give us a little more variety, something that is more affordable for college students.”
Jolas said they are working to put in businesses that will benefit the entire community with the services that it will offer.
“We are trying to keep it consistent with what is already been there,” Jolas said. “We want solid businesses that will contribute to the community and to the area.”
The other businesses in the vicinity of the vacant slot have no intention or need to reconsider their place in the plaza for the time being. “Blockbuster closing doesn’t matter because all the people that came to Blockbuster all go to Subway, so our business wasn’t really affected,” said Rigo Smith, general manager of the Champagne Bakery. “We are well.”
Similarly, Subway it has no desire to leave their location. “The owner, she wants to stay here forever,” said Subway Manager Marco Galilbo.
Submitted 04-13-2006
MALIBU, CA
