From The Editorial Staff – Palos Verdes Peninsula News
Thursday, November 16, 2006

How will Stoltz handle The Avenue?

After eight years of setbacks and triumphs with The Avenue of the Peninsula in Rolling Hills Estates, Atlanta-based Cousins Properties sold the open-air mall for more than $95 million to Stoltz Real Estate Partners in Philadelphia. After sinking hundreds of thousands of dollars into improvements, such as a brand-new facade facing Silver Spur Road, and seeing an exodus of general managers - there have been at least five since the center opened seven years ago - Cousins decided to leave town. The question is, How will Stoltz handle its new holding in RHE's downtown, an area removed from major freeways that often struggles to attract customers?
As the company embarks on its new mission, the Peninsula News wishes Stoltz well and hopes The Avenue finds much success in the coming months.
Certainly, Cousins' efforts during the past couple years have put the shopping center on the right track. Former General Manager Anton Kotze oversaw the facade improvements on Silver Spur that made the mall a far more attractive destination. Gone is the fortress-like look that likely turned off many potential shoppers. In its place are smart- looking displays and signs that showcase some of The Avenue's premier stores.
But perhaps the most welcome addition to the mall is an Ann Taylor Loft, which is scheduled to open in time for the holiday shopping season. Gone, mercifully, is Saks Fifth Avenue, which never was a good fit. While Saks may play well in places like Beverly Hills, it doesn’t make sense in Palos Verdes, where residents are known for their frugality and
practicality. The Peninsula didn’t earn the moniker Hamburger Hill for nothing. Most folks here expect to pay fair prices for merchandise that will last, not big bucks for fancy accessories and clothing.
Another solid addition is Coldwater Creek, a women’s apparel store that should have wide appeal to ladies on the Hill. For those interested in checking out Coldwater, it's already open. Also on the list of new merchants are Frascati's Italian restaurant, which will replace the Lotus Garden across from Marmalade Cafe, and Peninsula Grill, which is now open and takes over Grand Cafe's spot. Like Saks, Grand Cafe simply didn’t fit up here. It offered upper-crust Mediterranean cuisine and sushi. Apparently the owners never consulted the Original Red Onion restaurant, a place that offers basic chicken and beef dishes that Peninsulans love. Thankfully, Peninsula Grill plans a menu with traditional American fare.
Yet, regardless of how many new shops and restaurants open in the place of failed experiments, and how much Stoltz reaches out to the community through cleverly designed marketing campaigns and Santa Claus for the kids, one major question remains. Will The Avenue ever be able to attract a customer base that will sustain merchants? So many retailers have come and gone. Certainly there are local success stories: TJ Maxx and the Red Onion immediately come to mind. But can Stoltz find that right mix of shops and dining destinations that keeps customers coming back for more? For the sake of the local economy, the News hopes so.