2301 Rosecrans Ave., Suite 4140
El Segundo, CA 90245
TEL: 424-297-1070 | URL: www.kosmont.com
CITY OF FULLERTON
RETAIL MARKET STUDY
MAY 2023
KOSMONT COMPANIES | 2
INTRODUCTION
City of Fullerton (“City”) retained Kosmont Companies (“Kosmont”) to develop a Retail Market Strategy (“Strategy”) designed to help the City understand health of retail districts, identify opportunities within the various districts to support occupancy and/or spur development and thereby increase tax revenues.
Kosmont toured the City’s commercial areas and shopping centers to inventory key retail sites and districts. Kosmont has discussions with City Economic Development staff, select real estate brokers / retail center representatives to identify strengths and challenges in attracting and retaining retail tenants.
Goals and objectives for this Strategy include:
• Assess health of retail centers
• Identify opportunities to fill vacant spaces
• Recommend actions to strengthen long term resilience
Disclaimer: The analyses, projections, assumptions, and any examples presented herein are for illustrative purposes and are not a guarantee of actual and/or future results. Actual results are difficult to predict as a function of market conditions,natural disasters, pandemics, legislation and administrative actions.
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TABLE OF CONTENTS
Executive Summary Page 4
1. Economic and Demographic Profile Page 14
1. City Revenue Information Page 15
2. Population & Household Demographics Page 18
2. Market Demand Analysis Page 30
1. Market Trends Page 31
2. Retail Market Page 41
Appendix Page 84
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EXECUTIVE SUMMARY
Fullerton is a diverse community of over 142,000 people with major retail and a vibrant downtown, and industrial, medical and educational institutions. The City is demographically diverse with over 20% Asian descent and over 30% Hispanic.
City’s population is highly educated with over 45% having college degrees, a median age of 36 and less than 15% over age 65.
The City economy is very healthy with a 2.6% unemployment rate and over 59,000 jobs concentrated in Health Care (17.2%); Education (14.7%); Visitor Serving (12.3%). Manufacturing (12.0%); and Retail (11.1%).
City relies on retail sales taxes for material portion of General Fund operations, generating estimated $30 million per year.
Top Left and Right: Historic buildings in Downtown Fullerton; Above Left: Fullerton Former City Hall (current Police Station); Above Right: Heritage House at Fullerton Arboretum KOSMONT COMPANIES | 5
EXECUTIVE SUMMARY
The City is comprised of many diverse districts and demand drivers:
• University District
➢ California State University Fullerton
• Downtown
➢ Fullerton College
➢ Amtrak/Metrolink Transportation Center
➢ SOCO
• Medical District – Harbor Blvd. Corridor
➢ St Jude Medical Center
• Southeast Industrial Corridor
➢ Fullerton Municipal Airport
• High Income Single Family Neighborhoods
➢ West Coyote Hills, Sunny Hills, Amerige Heights
Top Left: Exterior of Fullerton Transportation Center; Top Right: St. Jude Medical Center; Above Left: Entrance to Fullerton Municipal Airport; Above Right: Cal State University – Fullerton KOSMONT COMPANIES | 6
SHOPPING CENTER OBSERVATIONS
Fullerton has a dozen significant shopping centers in addition to the historic downtown area. • The largest concentration is centered around Harbor Blvd. and Orangethorpe Ave. with:
Fullerton MetroCenter at 431,000 SF drawing 3.8 million people per year OrangeFair Marketplace at 348,000 SF drawing 4.2 million people per year Fullerton T own Center at 364,000 SF drawing 8.4 million people (driven by Costco) • Amerige Heights is major power center located at Malvern and Gilbert with 418,000 SF , drawing 6.1 million people over 80% living 7 miles or less
• Fullerton Crossings in the newest center on Placentia Ave. with Sam’s Club and Home Depot and no inline shops, drawing 3.7 million people per year
• North Fullerton with Best Buy and 24Hr Fitness totals 211,000 SF and draws only 1.3 million people • University Shopping Center anchored by Target is 159,000 SF , drawing 1.7 million people • Downtown Fullerton with smaller shops and restaurants draws 6.1 million people from a broad trade area KOSMONT COMPANIES | 7
STRENGTHS
• Fullerton is bounded by four major state highways, providing good regional access (SR 39 Beach Blvd. on west, SR 91 on south, SR 57 on east and SR 90 Imperial Highway on north) • Home of the largest Cal State University Campus – over 40,000 students • Home of the oldest community college – 25,000 students • OC largest Transit Center with regional bus, Amtrak and Metrolink service – serving 3,000 people per day
• Major employment center with 59,000 people employed within City limits • High income/highly educated households $127,000 average HH income • Retail sales declined only 15% during 1st year of Covid and rebounded strongly growing by almost 50% in past 5 years - demonstrating Fullerton’s strength in the regional marketplace • While the retail market in Fullerton is large at 6.7 million square feet, vacancy is healthy at only
3.8%; most retail is located on strong arterial thoroughfares KOSMONT COMPANIES | 8
WEAKNESSES
• Shopping centers are relatively old – vast majority built in the 1960-70’s
➢ Exceptions are Fullerton Crossings (2015) and Amerige Heights T own Center (2004)
• Imperial Marketplace has vacant grocery/drug stores totaling 70,000 SF
• Downtown area experienced dramatic customer decline in 2020 due to Covid, and visits remain 20% below 2019 levels • With exception of the Costco and Sam’s Club anchored
centers, the City’s taxable sales range from under $100 per SF to a high of $270 per SF with an average of $170 per SF • Significant number of large box retailers (42 over 20,000 SF) • Lack of major shopping centers on north side of City
Above: Locations of shopping centers in the City of Fullerton according to CoStar. Very few shopping centers located north of Bastanchury Rd.
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OPPORTUNITIES
• Over 22 square miles of land area provides substantial growth opportunities • 500 acres of undeveloped land owned by Chevron subsidiary • Fox Fullerton Theater renovation
• Imperial Marketplace has over 70,000 SF of vacant space under one roof • City is home to a vibrant music scene with many venues (original home of Fender Guitars) • SOCO area (south of Commonwealth)
• Muckenthaler Cultural Center art galleries and theatre group • Day of Music Fullerton - June 21 with over 40 venues host 150 performances • Fullerton Crossings has surplus land available adjacent to 2 major anchors • Work from Home trends will increase local commerce
• Need to create business liaison to meet regularly with major shopping center managers/owners to identify opportunities and constraints while there is time to address KOSMONT COMPANIES | 10
THREATS
• Transformation of big box retailers in need of distribution facilities (i.e., micro fulfillment) • Measure W (2012) prohibited development in West Coyote Hills – many years of litigation • Sunrise Village (planned conversion to residential), Fullerton Crossings and Amerige Heights are on secondary street locations
• AB 2011 allows housing to be built by-right in areas zoned for office, retail, or parking uses. The bill creates a CEQA-exempt, time-limited approval process for multifamily housing on commercially zoned property (projects must pay prevailing wages to construction workers and meet affordable housing targets*) • Movie theaters long term viability
• High inflation, interest rates and construction costs make development challenging near term • E-commerce continues to expand, impacting traditional store front retail Source: California Housing Consortium, https://calhsng.org/wp-content/uploads/2022/04/AB-2011-Affordable- Housing-and-High-Road-Jobs-Act-Factsheet-April-2022.pdf (Accessed March 2023) Notes: *Per AB 2011, 100% affordable housing is allowed anywhere in such areas, so long as they are not adjacent to industrial-zoned or environmentally damaged land. Mixed-income housing will be allowed along commercial corridors wide enough to accommodate density and new traffic.
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RECOMMENDATIONS
City is undergoing evaluation of Housing Incentive Overlay Zoning (HIOZ). This is a policy tool to address housing shortfall, but it is important to critically examine the impact on jobs and tax revenue associated with key parcels having 100% residential overlay. Kosmont’s preliminary analysis indicates several major parcels warrant reexamination or restructuring of overlay zoning.
Action Item 1: Create a Business Expansion, Attraction, and Retention (BEAR) program. New program to provide enhanced customer service to support business development. Business- friendliness is a vital component to support businesses, developers and to foster entrepreneurship, bolstering the local economy and increasing tax revenues.
Action Item 2: Sponsor technical assistance programs to support emerging businesses/entrepreneurs in the City. Food and beverage businesses are the highest grossing sales generators (after gas stations and Costco/Sam’s Club)
Action Item 3: Maintain enhanced business and development data analytics to track economic and market trends.
Performance metrics will allow the City to identify progress made, determine barriers that still exist, responses proven successful, and projects scheduled for development. The following metrics are recommended to be measured each
calendar year and compared to the prior year’s results:
1. Sales T ax Revenues by Geographic District – measure success in revitalizing downtown and attracting businesses to other centers
2. Assessed Value of Commercial Property – show increased private sector investment
3. Number and T ype of Business Licenses – measure new business formations
4. Employment by Industry – show success in commercial
employment growth
5. Survey of Business Owners – identify issues regarding City permitting process and other programs to inform staff of challenges Kosmont has preprepared a list of Action items for the City to consider over the next 12 months:
KOSMONT COMPANIES | 12
RECOMMENDATIONS (CONT’D)
Action Item 4: Consider programs that can help existing businesses thrive (such as façade improvement programs, street / outdoor retail) and help existing properties utilize their space (such as expanding allowable uses in storefront spaces, sales tax in-lieu payment for non-retail uses). Prioritize program implementation under-invested commercial areas in the City.
Action Item 5: Explore creation of a Property Based
Improvement District (“PBID”) to support enhanced cleaning, security, marketing and physical improvements in downtown.
Action Item 6: Evaluate publicly-owned opportunity sites – such as the surface parking lots and parking garages – to evaluate potential reuse strategies that create gathering places, activities, and other amenities.
Action Item 7: Invest in physical improvements that can create sense of place and further activate the downtown area—
through pedestrian-oriented improvements such as plazas and outdoor spaces, water features, running/walking paths, street improvements, sidewalks, transit / micro-transit services, and pedestrian malls.
Action Item 8: Invest in other enhancements such as gateway signage and wayfinding, public art, thematic street and sidewalk enhancements, and public open space.
Action Item 9: Evaluate success of existing centers, parking sufficiency, identify and analyze key privately-owned commercial sites that are well-positioned for reuse or redevelopment.
KOSMONT COMPANIES | 13
RECOMMENDATIONS (CONT’D)
Action Item 10: Conduct outreach and collaborate / build relationships with property owners (e.g. Fullerton Crossroads, Amerige Heights) and brokers to explore development
opportunities, pursue businesses, and address challenges that can keep key uses at properties (retention) bring new uses to privately-owned sites (attraction).
Action Item 11: Grow social media engagement channels, as well as marketing/trade publications to promote local businesses and events. Promote opportunities and conduct meetings with key owners / brokers / retailers at ICSC
Action Item 12: Examine Cannabis business opportunities and creation of cannabis specific business programs. Business opportunities should include exploration of retail storefront cannabis licenses and other State allowed business types in appropriate commercial locations.
Action Item 13: Evaluate shopping centers that are best long term commercial locations in order to identify those centers well suited for redevelopment to meet needs of potential Housing Element sites
KOSMONT COMPANIES | 14
ECONOMIC AND DEMOGRAPHIC PROFILE
CITY OF FULLERTON – RETAIL MARKET STRATEGY
KOSMONT COMPANIES | 15
CITY OF FULLERTON– RETAIL MARKET STRATEGY
1.1 – CITY REVENUE INFORMATION
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TAX REVENUES (HISTORIC CONTEXT)
CITY OF FULLERTON VS. CALIFORNIA CITIES
Sales and Use
Tax: 28.0%
Property Tax:
56.2%
Franchise
Tax: 5.8%
TOT: 4.0%
BLT: 1.5%
Prop. Transfer
Tax: 1.0%
Other Taxes: 3.5%
Source: California State Controller’s Office, City Revenues FY 2017-2018 (Accessed June 2021) Notes: Includes both functional and general tax revenues. Property Taxes includes: in-lieu of MVLF, secured, unsecured, and other property tax revenue categories. Other Taxes includes:
interest, penalties, delinquent taxes, transportation taxes (transit and non-transit), employer payroll tax, construction development taxes, parking taxes, admission taxes, and all other taxes.
Transportation taxes comprise most of the revenue labeled “Other Taxes”. In Fullerton, no revenues were collected from Utility User Taxes.
Sales and Use
Tax: 22.0%
Property Tax:
40.5%
Other Taxes:
10.7%
Franchise Tax: 4.0%
TOT: 8.1%
BLT: 5.8%
Prop.
Transfer
Tax: 2.9%
Utility User
Tax: 6.0%
California Cities’ T ax RevenuesCity of Fullerton
KOSMONT COMPANIES | 17
0%
10%
20%
30%
40%
50%
60%
70%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
TOT % of Tax Revenues
Sales Tax % of Tax Revenues
TAX REVENUES (HISTORIC CONTEXT)
SALES TAX & TOT EXPOSURE
Source: California State Controller’s Office, City Revenues FY 2017-2018 (Accessed March 2023) Risk from Sales
Tax Exposure
(Sales Tax >25%)
Risk from Sales &
Hotel Tax
Exposure
Risk from Hotel
Tax Exposure
(TOT > 10%)
Fullerton
The median California
city collects > 1/3 of
tax revenue from sales
tax + TOT
KOSMONT COMPANIES | 18
CITY OF FULLERTON– RETAIL MARKET STRATEGY
1.2 – POPULATION & HOUSEHOLD DEMOGRAPHICS
KOSMONT COMPANIES | 19
1 Mile
3 Miles
CITY LIMITS &
RADII
FROM
INTERSECTION OF
COMMONWEALTH
AVE. AND
HARBOR BLVD.
5 Miles
Fullerton
City Limits
Source: ESRI Business Analyst Online (Accessed March 2023) KOSMONT COMPANIES | 20
POPULATION & INCOME
CITY, COUNTY, AND STATE
2022 Fullerton
City
Orange
County
California
State
Population 144,381 3,203,504 39,770,476
Households 48,711 1,082,175 13,570,050
Average HH Size 2.89 2.91 2.86
Median Age 36.0 37.8 36.7
% Bachelor's Degree
or Higher 46.6% 45.1% 37.8%
% Asian / Pacific Islander Origin 27.5% 23.2% 16.3%
% Hispanic Origin 38.0% 34.1% 39.4%
Per Capita Income $43,052 $49,691 $44,265
Median HH Income $89,661 $105,674 $88,930
Average HH Income $126,970 $146,902 $129,367
Source: ESRI Business Analyst Online (Accessed March 2023) KOSMONT COMPANIES | 21
POPULATION & INCOME
RADII
2022 1 Mile 3 Miles 5 Miles
Population 26,312 225,118 601,574
Households 9,459 69,470 189,971
Average HH Size 2.72 3.18 3.12
Median Age 35.0 33.5 35.1
% Bachelor's Degree
or Higher 36.3% 35.3% 35.1%
% Asian / Pacific Islander Origin 13.6% 19.8% 22.2%
% Hispanic Origin 49.6% 53.7% 49.7%
Per Capita Income $37,855 $35,570 $36,793
Median HH Income $76,087 $82,269 $87,260
Average HH Income $105,503 $115,025 $116,484
Source: ESRI Business Analyst Online (Accessed March 2023) KOSMONT COMPANIES | 22
5 Minutes
10 Minutes
DRIVE TIMES
FROM
INTERSECTION OF
COMMONWEALTH
AVE. AND
HARBOR BLVD.
15 Minutes
Source: ESRI Business Analyst Online (Accessed March 2023) KOSMONT COMPANIES | 23
POPULATION & INCOME
DRIVE TIMES
2022 5 Minutes 10 Minutes 15 Minutes
Population 65,490 389,843 986,256
Households 22,411 122,225 309,920
Average HH Size 2.87 3.14 3.12
Median Age 35.6 34.2 35.8
% Bachelor's Degree
or Higher 36.8% 35.2% 36.3%
% Asian / Pacific Islander Origin 15.9% 21.1% 24.1%
% Hispanic Origin 49.0% 52.0% 46.3%
Per Capita Income $38,193 $36,052 $38,090
Median HH Income $79,612 $84,355 $91,319
Average HH Income $111,590 $114,615 $120,845
Source: ESRI Business Analyst Online (Accessed March 2023) KOSMONT COMPANIES | 24
5%
6% 6%
16% 16%
12% 12% 12%
8%
5%
2%
6% 6% 6%
13%
15%
13% 13%
12%
9%
5%
2%
6% 6% 6%
13%
16%
13%
12% 12%
9%
5%
2%
0-4 5-9 10-14 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ Fullerton
Orange County
California
Median Age
Fullerton 36.0
Orange County 37.8
California 36.7
POPULATION BY AGE - 2022
FULLERTON’S AGE DISTRIBUTION IS ON PAR WITH COUNTY AND STATE Source: ESRI Business Analyst Online (Accessed March 2023) KOSMONT COMPANIES | 25
POPULATION BY EDUCATIONAL ATTAINMENT - 2022
FULLERTON AND ORANGE COUNTY HAVE HIGH LEVELS OF EDUCATIONAL
ATTAINMENT COMPARED TO STATE
10%
18%
26%
30%
17%
12%
17%
26%
29%
16%
14%
21%
27%
24%
14%
No high school diploma High school graduate or
equivalent
Some college or
Associate's degree
Bachelor's degree Graduate or prof. degree
Fullerton
Orange County
California
Source: ESRI Business Analyst Online (Accessed March 2023); Notes: Population observed includes people aged 25 and older. % Bachelor’s Degree or Higher
Fullerton 46.6%
Orange County 45.1%
California 37.8%
KOSMONT COMPANIES | 26
8%
5% 5%
9%
16%
13%
19%
12%
15%
6%
4% 5%
7%
13% 12%
21%
13%
20%
7%
6% 6%
9%
15%
13%
19%
11%
16%
<$15K $15-$25K $25-$35K $35-$50K $50-$75K $75-$100K $100-$150K $150-$200K $200K+ Fullerton
Orange County
California
POPULATION BY INCOME - 2022
46% OF FULLERTON HOUSEHOLDS EARN >$100K ANNUALLY
HH Income Median Average
Fullerton $89.661 $126,970
Orange County $105,674 $146,902
California $88,930 $129,367
Source: ESRI Business Analyst Online (Accessed March 2023) KOSMONT COMPANIES | 27
RETAIL GOODS
AND SERVICES
EXPENDITURES
Current Households City of
Fullerton
% Share
Per HH 5-Mile Radius % Share
Per HH
Households: 48,700 - 190,000 -
Average HH Income $127,000 - $116,500 -
Avg. HH Expenditures for Select Categories
Food at Home $7,322 23.2% $6,779 23.4%
Food Away From Home $5,344 17.0% $4,930 17.0%
Alcohol $893 2.8% $818 2.8%
Housekeeping Supplies $985 3.1% $906 3.1%
Household Furnishings / Equipment $1,832 5.8% $1,674 5.8% Apparel $2,912 9.2% $2,676 9.2%
Vehicle Payments (excl. leases) $3,076 9.8% $2,795 9.7% Gasoline / Motor Fuel $3,215 10.2% $2,988 10.3%
Health (OTC/PrescriptionDrugs, Eyewear) $663 2.1% $596 2.1% Fees / Admission $1,063 3.4% $978 3.4%
TV / Video / Audio Equipment $1,485 4.7% $1,353 4.7%
Pets $906 2.9% $822 2.8%
Toys / Games / Hobby $147 0.5% $134 0.5%
Personal Care Products $669 2.1% $614 2.1%
Reading $142 0.5% $129 0.4%
Education (School Books and Supplies) $189 0.6% $172 0.6% Tobacco Products $433 1.4% $382 1.3%
Sports / Recreation / Exercise Equipment $233 0.7% $210 0.7% Total Per Household $31,509 100.0% $28,956 100.0%
Total Annual Spending Potential $1,534,822,000 - $5,501,455,000 - The ~48,700 households in the City of Fullerton
spend approximately $1.53 billion annually
across these select retail expenditure
categories. Higher incomes among City
households allow for higher amounts of
spending per household.
The ~190,000 households in the 5-mile radius
spend approximately $5.50 billion across the
observed retail expenditure categories annually.
The top three spending categories across
households in both geographies are Food at
Home (e.g., groceries), Food Away From Home
(e.g., restaurants, fast food), and Gasoline /
Motor Fuel.
Source: ESRI Business Analyst Online (Accessed March 2023); Note: The Fees/Admission category primarily reflects spending on entertainment, including tickets to the theatre, movies, parks/museums, and sporting events.
KOSMONT COMPANIES | 28
6.3%
5.1%
4.1%
3.6%
3.1% 3.0%
9.8%
6.4%
3.1%
5.6%
4.5% 4.1% 3.5%
3.0% 2.8%
9.0%
6.0%
3.0%
7.6%
6.3%
5.5%
4.8%
4.3% 4.1%
10.2%
7.3%
4.1%
0%
4%
8%
12%
2014 2015 2016 2017 2018 2019 2020 2021 2022
Fullerton Orange County California
UNEMPLOYMENT HISTORY
CITY, COUNTY, AND STATE
Source: California Employment Development Department (Accessed March 2023); Notes: Numbers are not seasonally adjusted. Annual averages are observed for years 2014 to 2022.
Unemployment Rate (Dec 2022)
Fullerton 2.6%
Orange County 2.5%
California 3.7%
KOSMONT COMPANIES | 29
WORKER INFLOW / OUTFLOW
Workers employed in the
City but living outside
Workers living & employed in the City
Workers living in the City
but employed outside
*Employment Ratio = People employed
within City (living and working in City +
those who come into the City for work) /
Employed population of City (living and
working in City + workers who live in the
City, but work outside of the City)
Source: U.S. Census Bureau Center for
Economic Studies (2019); City of Fullerton
ACFR FY 2021-2022 (Accessed March 2023)
Reference: City of Fullerton
Workers Living and Working 7,026
Workers Coming (Inflow) 56,481
Workers Going (Outflow) 58,431
Net Inflow/Outflow (1,950)
Employment Ratio* 0.97
Major industry sectors in the City of
Fullerton include: health care and social
assistance, educational services,
accommodation and food services,
manufacturing, and retail trade
Employees who work in the City come
from the following areas: Anaheim, Los
Angeles, Santa Ana, La Habra, and Placentia
Most residents who work outside of the
City go to the following areas: Anaheim,
Los Angeles, Irvine, Santa Ana, and Orange
T op 5 Employers in Fullerton include:
➢ Cal. State Univ., Fullerton
(3,000 employees)
➢ St. Jude Medical Center (1,797 emp.)
➢ Raytheon Systems Co. (1,200 emp.)
➢ Fullerton College (1,110 emp.)
➢ Fullerton School District (620 emp.)
KOSMONT COMPANIES | 30
MARKET DEMAND ANALYSIS
CITY OF FULLERTON – RETAIL MARKET STRATEGY
KOSMONT COMPANIES | 31
CITY OF FULLERTON– RETAIL MARKET STRATEGY
2.1 – MARKET TRENDS
KOSMONT COMPANIES | 32
Key trends in the post-COVID-19 economy:
➢ Retail
• Retail store closures, bankruptcies, and e-commerce
has driven changes in retail; Retail centers are being
reimagined (e.g. blended use development)
• Retail driven by trip-generators such as
entertainment, experience, and essentials (e.g. food)
➢ Office
• Office leasing activity dropping as remote work
becomes new normal; Social distancing led to offices
resizing/reconfiguring
• Integrating office in blended use environments;
Possible shift to suburban offices
➢ Industrial
• E-commerce is accelerating growth of industrial;
• Retail and industrial are merging, with space being
used for Buy Online Pick Up in Store (BOPIS),
fulfillment, last mile and warehousing (including flex) ➢ Residential
• Homes are live, play, and work environments
• Strength in suburban markets; Home office is the
new home amenity as single and multifamily housing
developments are designed to facilitate work
• New residential sites within shopping centers
➢ Hospitality
• Hospitality sector hurt the most by COVID-19
(conventions and business), but leisure travel is
rebounding
SUMMARY
MARKET TRENDS
KOSMONT COMPANIES | 33
Housing is Not a
Loss Leader, it’s a
Growth Driver
Retail is Not Just
Retail Anymore
T elework is
Reconfiguring Office
Industrial /
Distribution is
Critical for the
Economy
Housing Creation as
Economic Development
Retail Reimagination as
Economic Development
Office Conversions as
Economic Development
Industrial & Fulfillment as
Economic Development
• New housing can generate
significant new tax revenues and
support local jobs from resident
spending
• Housing is not necessarily a net
negative fiscal impact, especially at
current property values
• U.S. retail over-built and needs
“right sizing;” Covid accelerated
trends; today its about essentials,
experience & e-commerce
• Blended/mixed use projects
integrate multiple uses (housing,
retail, open space, creative office,
hotel)
• T elework and work from home
options are reshaping the needs for
office space and business districts
• Job redistribution tied to housing
• Vacancies can lead to fiscal impact
pressure
• Modern industrial is not “your
father’s industrial” – it is a blend
• Retail can’t thrive without
distribution; Booming demand for
e-commerce, particularly smaller
last-mile delivery facilities
• Flex space (a blend of industrial,
office, research and development
space) is a growing market. Cities
can attract high tech / skill firms
with such space
Key Market and Economic Development Trends for Fullerton KOSMONT COMPANIES | 34
HOUSING AS ECONOMIC DEVELOPMENT
Rooftops Needed
New housing can generate significant new tax revenues and supports local jobs – it is not necessarily a net negative fiscal impact, especially at current property values.
Live
Housing is needed in
jobs-rich areas;
High costs are a burden,
but high assessed value
= tax $$$
Work
Shop
Telecommuting is
booming; remote
workers can alleviate
traffic and increase
“spend” to support
local businesses.
E-commerce will capture
25% of sales within 5
years (~$9k per CA
household)
KOSMONT COMPANIES | 35
WORK-FROM-HOME GROWTH
SIGNIFICANT IMPACTS ON OFFICE DISTRICTS & DAYTIME POP.
Work-from-home is changing where people choose to live, and increases popularity of “15-minute communities” that offer amenities and quality of life
Census Bureau estimated that ~44% of workers are in jobs where working from home is currently feasible, with only a quarter of those in feasible telework jobs actually utilizing this capability Research shows the ability to telework likely varies by educational attainment and income-level; many of the telework occupations are heavily represented by incomes requiring higher levels of education (such as Management / Business / Financial / Professional occupations) Other research shows that while work-from-home days have declined from the pandemic high of 60% to ~40% of days, this is still significantly above pre-pandemic estimates of 5%
Employers are expecting an average of 2.3 work-from-home days per week, suggesting that hybrid home/office model is likely to be well- utilized post-COVID
Source: U.S. Census Bureau; St. Louis Federal Reserve; Survey of Working Arrangements (Accessed December 2022)
0%
10%
20%
30%
40%
50%
60%
70%
1 1.2
1.4 1.6
1.8 2
2.2 2.4
Percent Paid Full Days WFH
Employer Plans for Post-COVID WFH Days
Work-from-Home: Current Utilization and
Employer Plans for post-COVID
Employer Plans for Post-COVID WFH Days
Percentage of Days WFH
KOSMONT COMPANIES | 36
E-COMMERCE GROWTH
SIGNIFICANT IMPACTS ON BRICK-AND-MORTAR RETAIL
E-commerce sales in the U.S. have increased steadily, jumping by 30% in Q2 2020 due to increased
utilization during the COVID-19 pandemic. Loss of
almost $1 trillion in sales puts massive pressure on
local brick-and-mortar retailers.
According to UBS, e-commerce’s share of overall U.S.
retail sales will continue to increase over the next 5
years, resulting in a loss of sales, primarily in clothing, office supply and sporting goods.
Consumer online shopping behavior has further
solidified during the COVID-19 pandemic, and is not
likely to revert to old patterns, thanks to free 1-day
delivery services, etc.
Source: U.S. Census Bureau; St. Louis Federal Reserve; UBS (Accessed December 2022)
0 2
4 6
8 10
12 14
16 0
100
200
300
400
500
600
700
800
900
1000
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
E-Commerce Share of Total Retail Sales
(Percent)
E-Commerce Retail Sales
(Billions of Dollars)
E-Commerce Retail Sales
E-Commerce Sales
E-Commerce: Share of Total Retail Sales
KOSMONT COMPANIES | 37
RETAIL TRENDS IMPACT ON SHOPPING CENTERS
Shopping Centers across the U.S. are faced with dramatic decline in retail sales as the digital economy converts the lifestyles and social patterns of every generation. Today’s consumers use online websites for purchasing many hard and soft good commodities. E-commerce retail sales are expected to continue their growth, particularly in categories of clothing & general merchandise purchases—categories that were traditionally a strength for shopping centers Approximately 1,500 regional malls have been built in the U.S. but several hundred have closed in past 5-10 years. By 2025, experts expect a cumulative loss of over 500 malls, with only Class-A malls in high income communities most likely to survive. The decline is largely related to the continued explosion of online retail sales. Retail centers with the strongest opportunity for future growth are those focused on essentials and experience KOSMONT COMPANIES | 38
THE EVOLUTION OF RETAIL CENTERS
Essential – Historically, downtown shopping districts were the center of the universe and a community’s primary draw, bringing a local character to shopping, dining, and entertainment.
Emergence – The first enclosed shopping mall was designed by Victor Gruen in the 1950s, bringing a revolutionary shopping concept to the suburbs.
Expansion –Mall concepts grew tremendously through the 1960s – 1980s, with new malls constructed as regional centers.
Enlargement – The spread of enclosed malls gave way to power centers and big box retail in the 1990s, fixated on even greater sizes of retail spaces.
Elevation – Lifestyle centers focus on upscale consumers and luxury brands, with boutique collections of stores paired with leisure amenities and landscaped designs in the 2000s.
Evolution – Today, significant store closures, brought upon by the rise of online-shopping and shifting consumer tastes, have led to greater mall vacancies and struggling downtown districts, reinforcing the need to create blended use and “think outside the box.”
KOSMONT COMPANIES | 39
RETAIL CENTERS
NOT COMING BACK AS PURE RETAIL
Fullerton,
CA
Orange
County, CA California* United
States*
Shopping
Center GLA 4.3 million SF 97.9 million SF 908.1 million SF 7.6 billion SF Population 144,400 3,203,500 39.5 million 328.2 million Shopping
Center GLA SF
Per Cap.
30 SF 31 SF 23 SF 23 SF
Global Context: Shopping Center SF Per Capita
USA 23.5 CANADA 16.8 AUSTRALIA 11.2
UK 4.6 JAPAN 4.4 FRANCE 3.8
SPAIN 3.4 CHINA 2.8 ITALY 2.8
Source: ICSC; Cowen & Company; Cushman & Wakefield; Coresight Research; CoStar (Accessed March 2023);
Note: *CA and US data represents 2019 estimates. This data reflects all shopping center space according to CoStar and does not include stand alone retail space.
64% of all retail space in the City is shopping center space (includes: community, neighborhood, power,
and strip centers)
The City contains approximately 30 SF of shopping
center retail space per capita, on par with Orange
County (30% more per capita shopping center
space compared to California and the U.S.)
An estimated 25% of U.S. malls could close
over the next 3-5 years, with the COVID-19
pandemic accelerating e-commerce trends
Large vacant retail space will need to be reimagined
into alternative uses (blended use)
KOSMONT COMPANIES | 40
RETAIL TRENDS RECAP
“Brick and Mortar” retail has been undergoing massive changes in the past decade. Major redevelopment plans for southern California shopping centers including Laguna Hills, Westminster Mall, and Baldwin Hills Crenshaw Plaza have been challenging with many sites pursuing “blended use” developments that include a significant multifamily housing component
The financial failure of the vast majority of department store chains, the non-stop growth of e-commerce, along with the expansion of the super box stores such as Costco, Walmart and Target has devastated regional malls across the U.S. COVID-19 related bankruptcies by dozens of national soft good chains that used to be the mainstay of malls is the last straw. Over 25% of malls built prior to 2000 are expected to be torn down in the next 2-3 years Shopping centers that are centered around experiences, entertainment, and essentials are best poised for economic resiliency and future success.
The future for retail centers in Fullerton lies in fostering experiential, entertainment uses and restaurants. Blended use projects that bring additional uses to retail sites (such as hospitality, last-mile logistics, and multifamily residential) can bring a more sustainable and diversified development to serve the community.
KOSMONT COMPANIES | 41
CITY OF FULLERTON– RETAIL MARKET STRATEGY
2.2 – RETAIL MARKET
KOSMONT COMPANIES | 42
RETAIL MARKET OVERVIEW
Source: CoStar (Accessed March 2023)
Q4 2022
City of
Fullerton
North County
Submarket
Orange
County
Availability
NNN Rent
$PSF/Yr. $28.08 $23.45 $30.89
Vacancy Rate 3.8% 4.5% 4.2%
Vacant SF 254,904 1,613,502 6,008,475
Net
Absorption 42,121 48,044 67,006
Inventory
Existing SF 6,694,225 36,060,863 144,317,960
Note: Costar defines Triple Net (NNN) as “a lease where the tenant is responsible for all expenses associated with their proportional share of occupancy of the building, except long-lived structural components and management charges.” Vacant space refers to all space that is not occupied by a tenant regardless of availability or lease obligation. Available space is the amount of space currently being marketed as available for lease or sale in a given time period. It includes any space that is vacant, occupied, or available at a future date. North County Submarket includes the cities of Brea, Buena Park, Fullerton, La Habra, La Palma, Placentia, and Yorba Linda, as well as northeast Anaheim and Anaheim Hills. Available retail space in Fullerton:
➢ 107,182 SF (35.1% vac.) at Imperial Marketplace, 4030- 4120 Harbor Blvd., fmr. Albertson’s [61,800 SF] and fmr.
Staples [25,300 SF]
➢ 21,843 SF (4.8% vac.) at Amerige Heights Town Center, 1893-1995 W. Malvern Ave., fmr. Aki-Home [20,000 SF]
➢ 20,124 SF (3.6% vac.) at Fullerton Metrocenter, 1307- 1447 S. Harbor Blvd., fmr. Top One Buffet [11,100 SF]
➢ 20,044 SF (16.2% vac.) at Albertson’s Shopping Center, 1930-1964 N. Placentia Ave., fmr. Stein Mart [20,044 SF] ➢ 15,500 SF available at fmr. Ace Hardware store
(standalone retail) at 117 W. Commonwealth Ave.
➢ 14,130 SF (1.5% vac.) at Orangefair Marketplace, 246 E.
Orangefair, fmr. Eusome Fashion & Beauty [7,900 SF]
➢ 13,180 SF (49.4% vac.) at Meadowbrook Plaza, 707-751
N. Placentia Ave. [multiple spaces available]
In the last 10 years, 319,400 SF of retail space added, 89% of which came in 2015 at Fullerton Crossings with
opening of Home Depot and Sam’s Club
82,800 SF proposed at Fullerton Crossings; 3,500 SF
restaurant/brewery proposed at 242 E. Commonwealth
Ave.; 1,200 SF Raising Cane’s under construction at 201 W. Orangethorpe Ave.
Top: Vacant Albertson’s at
Imperial Marketplace
Middle: Vacant Stein Mart at
Albertson’s Shopping Center
Above: Former CVS at Sunrise Village
KOSMONT COMPANIES | 43
RETAIL MARKET HISTORY
2012 – 2022
Source: CoStar (Accessed March 2023);
Note: Numbers in parentheses and in red indicate a negative number.
CITY OF FULLERTON
Year Inventory
SF
Vacant
SF
Total
Vacant
%
Total
Net
Absorp.
SF Total
NNN
Rent
Overall
2022 6,694,225 254,904 3.8% 272,021 $28.08
2021 6,694,225 526,925 7.9% (192,986) $28.35
2020 6,694,225 333,939 5.0% (41,771) $33.73
2019 6,688,018 285,961 4.3% 68,716 $27.75
2018 6,678,553 345,212 5.2% (7,753) $20.71
2017 6,674,481 333,387 5.0% 5,621 $19.77
2016 6,663,930 328,457 4.9% (61,114) $18.23
2015 6,663,930 267,343 4.0% 352,713 $20.85
2014 6,378,360 334,486 5.2% (43,743) $20.80
2013 6,378,360 290,743 4.6% (89,756) $20.48
2012 6,374,860 197,487 3.1% 26,256 $21.54
ORANGE COUNTY
Year Inventory
SF
Vacant
SF
Total
Vacant
%
Total
Net
Absorp.
SF Total
NNN
Rent
Overall
2022 144,317,960 6,008,475 4.2% 730,501 $30.89
2021 144,037,899 6,458,915 4.5% 291,064 $29.69
2020 143,919,281 6,631,361 4.6% (841,634) $28.62
2019 143,824,540 5,694,985 4.0% (222,192) $28.54
2018 143,522,012 5,159,079 3.6% 970,491 $26.27
2017 143,079,126 5,697,150 4.0% 639,775 $25.56
2016 141,930,859 5,188,658 3.7% 365,189 $24.83
2015 141,484,972 5,107,960 3.6% 1,881,008 $25.64
2014 140,339,378 5,843,374 4.2% 1,535,990 $23.56
2013 139,839,147 6,879,133 4.9% 1,101,520 $22.73
2012 139,634,892 7,776,398 5.6% 823,518 $22.73
NORTH COUNTY SUBMARKET
Year Inventory
SF
Vacant
SF
Total
Vacant
%
Total
Net
Absorp.
SF Total
NNN
Rent
Overall
2022 36,060,863 1,613,502 4.5% 389,892 $23.45
2021 35,923,053 1,865,584 5.2% 192,089 $23.89
2020 35,915,158 2,049,778 5.7% (298,639) $23.70
2019 35,897,663 1,733,643 4.8% 131,296 $23.45
2018 35,753,264 1,720,540 4.8% 114,351 $20.56
2017 35,688,712 1,770,340 5.0% 545,527 $20.90
2016 34,925,162 1,552,317 4.4% 213,274 $19.56
2015 34,784,899 1,625,328 4.7% 710,111 $20.66
2014 34,473,035 2,023,575 5.9% 246,366 $19.52
2013 34,396,411 2,193,317 6.4% 72,711 $19.54
2012 34,309,874 2,179,491 6.4% 533,990 $19.83
KOSMONT COMPANIES | 44
RETAIL MARKET HISTORY
2012 – 2022
Source: CoStar (Accessed March 2023)
Vacancy Rates NNN Rent $PSF/Yr.
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
City of Fullerton North County Submarket Orange County
$18.00
$20.00
$22.00
$24.00
$26.00
$28.00
$30.00
$32.00
$34.00
$36.00
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
City of Fullerton North County Submarket Orange County
KOSMONT COMPANIES | 45
RETAIL CENTERS CONCENTRATION IN FULLERTON
Source: CoStar (Accessed March 2023)
KOSMONT COMPANIES | 46
MAJOR CENTERS (>100K SF GLA) IN FULLERTON
1 Legend
Power Center
Community Center
Neighborhood Center
3 2
4 5
6 7
8 9
1011*
12 13
14 Commonwealth Ave.
Fullerton
City Limits
Euclid St.
Brookhurst Rd.
Rosecrans Ave.
S. Harbor Blvd.
State College Blvd.
Yorba Linda Blvd.
Imperial Hwy.
Chapman Ave.
Orangethorpe Ave.
Source: CoStar (Accessed March 2023)
Note: Further analyses were conducted on
centers with highlighted numbers.
*Sunrise Village is planned to be redeveloped
into a blended-use development with
commercial space and 49 single-family homes
and 64 townhomes (113 units total).
Further visitation analyses were conducted on
centers with highlighted numbers.
**Downtown Fullerton is defined as the area
bounded by the following streets: Chapman
Ave. to the north, Highland Ave. to the west,
Walnut Ave. to the south, and Lemon St. to
the east. A visitation analysis was also
provided for Downtown Fullerton.
Downtown
Fullerton**
KOSMONT COMPANIES | 47
MAJOR RETAIL CENTERS BY GLA
# on
Map
Center
Name Type GLA
(SF)
Yr. Built
(Renovated) Vacancy Anchor
Tenants
True
Owner
Primary Leasing
Company
Leasing
Contact
1 Fullerton Metrocenter
(1307-1447 S. Harbor Blvd.)
Power
Center 431,743 1965 (2004) 3.6% Sprouts, Target, Urban
Air Adv. Park, PetSmart
Kite Realty Group
Trust Newmark
Kevin Hansen, Director
(949) 608-2194
[email protected]
2 Amerige Heights Town Center
(1893-1995 W. Malvern Ave.)
Power
Center 418,318 2000 4.8%
Target, Albertsons, Ross,
Barnes & Noble, Gold’s
Gym
Regency Centers
Corp.
Regency (property
mgmt.); Kidder
Mathews (sublet
company)
Stephen Hargrave,
Sr. Regional Prop. Mgr.
(858) 847-4600
[email protected]
3 Fullerton Town Center
(1020-1160 S. Harbor Blvd.)
Power
Center 364,236 1980 (2018) 0.0%
Costco, AMC Dine-In
20, Ross, Five Below,
Amazon Fresh
World Premier
Investments, Inc. and
RY Properties, Inc.
Newmark
Mark Baziak, Sr. Managing Director
(949) 608-2049
[email protected]
4 Orangefair Marketplace
(246 E. Orangefair) Power Center348,198 1958 (2015) 1.5% Burlington, Best Buy,
Chuze Fitness, Marshalls,
Skechers Outlet
Columbus Pacific
Properties
SRS Real Estate
Partners
Terrison Quinn, Managing Principal
(949) 698-1107
[email protected]
5 Fullerton Crossings
(629 S. Placentia Ave.)
Power
Center 288,777 2015 0.0% Home Depot, Sam’s
Club
Merlone Geier
Management Inc. Merlone Geier
Katy Noel, VP
(855) 640-6400 x703
[email protected]
6 Fullerton Crossroads
(3021-3316 Yorba Linda Blvd.)
Community
Center 221,636 1970 (2010) 0.0% Kohl’s, Ralphs, Jo-Ann, Daiso
Retail Opportunity
Investments Corp.
(ROIC)
ROIC
Courtney Brodie, Director of Leasing
(858) 255-4908
[email protected]
7 North Fullerton Shopping Center
(200 W. Imperial Hwy.)
Community
Center 211,549 1970 (2013) 0.0% Floor & Décor, Best Buy, 24 Hr Fitness
Eleni N. Anas
(562) 943-8527 Craig Young
Craig Young
(714) 308-5995
[email protected]
KOSMONT COMPANIES | 48
MAJOR RETAIL CENTERS BY GLA
# on
Map
Center
Name Type GLA
(SF)
Yr. Built
(Renovated) Vacancy Anchor
Tenants
True
Owner
Primary Leasing
Company
Leasing
Contact
8 Fullerton University
Shopping Center
(2910-2990 Yorba Linda Blvd.)
Community
Center 159,490 1976 0.0% Target AWJ Investment
Group, Inc. RE/MAX One
Suehwa Liu, Broker
(714) 832-2000 x101
[email protected]
9 Imperial Marketplace
(4030-4120 N. Harbor Blvd.)
Neighborhood
Center 128,841 1968 (2019) 35.1% Valvoline (largest tenant) Ying Chong To (Future
Immobiliere Inc.)
(909) 468-0768
G&S Group (KW
Commercial)
Patrick Sharples, Director
(714) 293-2792
[email protected]
10 Albertsons Shopping Center
(1930-1964 N. Placentia Ave.)
Neighborhood
Center 123,615 1969 16.2% Albertsons Legacy Trust
(310) 652-6600
Springstead &
Associates
Carol Springstead
(949) 797-9040 x103
[email protected]
11* Sunrise Village
(1751-1891 N. Euclid St.)
Neighborhood
Center 123,122 1976 (1991) 0.0% Imperial Health Spa, CVS Byoung Chul Kim
(ABSR Living Trust)
(213) 820-6450
Dream Realty
Asset Mgmt.
Anny Shin, President/CEO
(213) 493-4627
12 West Fullerton Center
(1817-1845 W. Orangethorpe
Ave.)
Neighborhood
Center 116,531 1956 (1990) 0.0% 99 Cents Only,
AutoZone HR Property Group SRM Properties
Sam Abassi, Director
(323) 731-2531
[email protected]
13 College Square
(2403-2495 E. Chapman Ave.)
Neighborhood
Center 110,071 1968 2.9% Smart & Final, Office
Depot, Dollar Tree
Investment
Concepts, Inc.
Investment
Concepts, Inc.
Kim Watson, Director
(714) 283-5800
[email protected]
14 Fullerton Marketplace
(914 W. Orangethorpe Ave.)
Neighborhood
Center 103,870 1962 (2006) 0.0% Food 4 Less, O’Reilly
Auto Parts
Thang Q & Kathy T
Pham
(949) 376-2881
Kathy Pham
Kathy Pham
(310) 544-0078
[email protected]
KOSMONT COMPANIES | 49
-100%
-80%
-60%
-40%
-20%
0%
20%
40%
60%
Visitor Traffic: Compared to Pre-COVID 2019 Baseline %
Downtown Fullerton
Fullerton Metrocenter
Amerige Heights Town Center
Fullerton Town Center
Orangefair Marketplace
Fullerton Crossings
North Fullerton Shopping
Center
Fullerton University Shopping
Center
VISITOR TRAFFIC
DOWNTOWN FULLERTON VS. RETAIL CENTERS
Source: Placer.ai (Accessed March 2023)
KOSMONT COMPANIES | 50
DOWNTOWN
FULLERTON
Source: ESRI Business Analyst Online (Accessed March 2023); Note: The Fees/Admission category primarily reflects spending on entertainment, including tickets to the theatre, movies, parks/museums, and sporting events.
Downtown
Fullerton
Chapman Ave.
N. Harbor Blvd.
N. Lemon St.
N. Highland Ave.
Commonwealth Ave.
Walnut Ave.
KOSMONT COMPANIES | 51
DOWNTOWN FULLERTON
VISITOR ANALYTICS – PLACER.AI
• From March 1, 2022 to Feb. 28, 2023,
Downtown Fullerton experienced
~132,900 median weekly visits
• 56% of visitors come from within 7
miles of Downtown Fullerton; There is
a sizable minority (23%) that come to
Downtown Fullerton from 10-30 miles
away
• Downtown Fullerton sees most
visitors in the late afternoon / early
evening (5-10 pm), peaking at the 7pm
hour
• Visits to Downtown Fullerton
primarily peak on the weekends, with
visitation at or above 1 million from
Fridays to Sundays
Source: Placer.ai (Accessed March 2023)
Current Visitor Data
Annual Visits 6.8 mil
Median Weekly Visits 132,900
Visit Frequency 4.0 visits / year
Median Visit Length 73 min.
Avg. HH Income $104K
*Visits between 3/22 – 2/23
Top: Downtown Fullerton Farmer’s Market
Above: Downtown Fullerton at night
KOSMONT COMPANIES | 52
DOWNTOWN FULLERTON
VISITOR ANALYTICS – PLACER.AI
Downtown Fullerton
True Trade Area (174.84 sq. mi.)
Distance from Home Area
Distance Visits Percentage
0 - 3 Miles 2,060,000 30%
3 - 7 Miles 1,790,000 26%
7 - 10 Miles 630,000 9%
10 - 30 Miles 1,510,000 23%
30 - 50 Miles 240,000 3%
50 - 100 Miles 160,000 2%
100+ Miles 450,000 7%
Source: Placer.ai (Accessed March 2023)
T op 5 Home Locations (Zip Codes)
Zip Code City Visits Percentage
92832 Fullerton 439,600 6.4%
92831 Fullerton 436,300 6.4%
92833 Fullerton 436,000 6.4%
92835 Fullerton 304,000 4.4%
90631 La Habra 300,800 4.4%
KOSMONT COMPANIES | 53
FULLERTON METROCENTER
VISITOR ANALYTICS – PLACER.AI
• From March 1, 2022 to Feb. 28, 2023,
Fullerton Metrocenter experienced
~71,500 median weekly visits
• Fullerton Metrocenter captures from a
tight trade area – 75% of visitors come
from within 7 miles of the center
• Fullerton Metrocenter has a steady
stream of visitors between noon and
8pm (with each hour having over
500,000 visits over the year). Visits
peak during the 6pm hour
• Consistent visitation Monday through
Thursday. 28% increase in visitation
over the weekends, peaking Saturday
Source: Placer.ai (Accessed March 2023)
Current Visitor Data
Annual Visits 3.8 mil
Median Weekly Visits 71,500
Visit Frequency 4.0 visits / year
Median Visit Length 34 min.
Avg. HH Income $87K
*Visits between 3/22 – 2/23
Top: Sprouts anchor at Fullerton Metrocentter
Above: Target anchor at Fullerton Metrocenter
KOSMONT COMPANIES | 54
FULLERTON
METROCENTER
Orangethorpe Ave.
Highland Ave.
S. Harbor Blvd.
KOSMONT COMPANIES | 55
FULLERTON METROCENTER
VISITOR ANALYTICS – PLACER.AI
Fullerton Metrocenter
True Trade Area (55.55 sq. mi.)
Distance from Home Area
Distance Visits Percentage
0 - 3 Miles 1,990,000 53%
3 - 7 Miles 810,000 22%
7 - 10 Miles 190,000 5%
10 - 30 Miles 470,000 12%
30 - 50 Miles 70,000 2%
50 - 100 Miles 50,000 2%
100+ Miles 220,000 4%
Source: Placer.ai (Accessed March 2023)
T op 5 Home Locations (Zip Codes)
Zip Code City Visits Percentage
92805 Anaheim 563,600 15.0%
92832 Fullerton 482,900 12.9%
92801 Anaheim 365,800 9.7%
92833 Fullerton 322,000 8.6%
92831 Fullerton 151,800 4.0%
KOSMONT COMPANIES | 56
AMERIGE HEIGHTS TOWN CENTER
VISITOR ANALYTICS – PLACER.AI
• From March 1, 2022 to Feb. 28, 2023,
Amerige Heights Town Center had
~115,300 median weekly visits
• Amerige Heights Town Center
captures from a local trade area – 80%
of visitors come from within 7 miles of
the center
• Amerige Heights Town Center has a
steady stream of visitors between
noon and 8pm with two peaks during
the 1pm lunch hour and the 5pm
afternoon rush hour (the latter having
more visits)
• Consistent visitation throughout the
week with no major increases or
decreases. Visitation peaks on Fridays
(10% more visits on Friday compared
to earlier in the week)
Source: Placer.ai (Accessed March 2023)
Current Visitor Data
Annual Visits 6.1 mil
Median Weekly Visits 115,308
Visit Frequency 7.9 visits / year
Median Visit Length 42 min.
Avg. HH Income $111K
*Visits between 3/22 – 2/23
Top Left: Signage indicating vacancy
Top Right: Former Aki-Home space
Above: Target anchor at Amerige Heights
KOSMONT COMPANIES | 57
AMERIGE HEIGHTS
TOWN CENTER
KOSMONT COMPANIES | 58
AMERIGE HEIGHTS TOWN CENTER
VISITOR ANALYTICS – PLACER.AI
Amerige Heights Town Center
True Trade Area (40.10 sq. mi.)
Distance from Home Area
Distance Visits Percentage
0 - 3 Miles 3,620,000 60%
3 - 7 Miles 1,270,000 20%
7 - 10 Miles 240,000 4%
10 - 30 Miles 580,000 10%
30 - 50 Miles 90,000 2%
50 - 100 Miles 80,000 1%
100+ Miles 220,000 3%
Source: Placer.ai (Accessed March 2023)
T op 5 Home Locations (Zip Codes)
Zip Code City Visits Percentage
92833 Fullerton 1,900,000 32.0%
90621 Buena Park 580,300 9.6%
92832 Fullerton 330,400 5.4%
90631 La Habra 312,400 5.1%
90638 La Mirada 291,400 4.8%
KOSMONT COMPANIES | 59
FULLERTON TOWN CENTER
VISITOR ANALYTICS – PLACER.AI
• From March 1, 2022 to Feb. 28, 2023,
Fullerton Town Center experienced
~161,500 median weekly visits
• Fullerton Town Center draws from a
local population – 75% of visitors
come from within 7 miles
• Fullerton Town Center has a steady
stream of visitors between 11am and
8pm (with each hour having over 1
million visits over the year). Visits peak
during the 5pm hour
• Consistent visitation Monday through
Thursday (~1.1 million visits for each
day). Weekend visits (Friday through
Sunday) average ~1.33 million visits,
peaking Saturday
Source: Placer.ai (Accessed March 2023)
Current Visitor Data
Annual Visits 8.4 mil
Median Weekly Visits 161,500
Visit Frequency 5.6 visits / year
Median Visit Length 35 min.
Avg. HH Income $94K
*Visits between 3/22 – 2/23
Top: Aerial view of Fullerton Town Center
Above: AMC Dine-In Theatre anchor at Fullerton Town Center KOSMONT COMPANIES | 60
FULLERTON
TOWN CENTER
E. Orangethorpe Ave.
S. Harbor Blvd.
Lemon St.
KOSMONT COMPANIES | 61
FULLERTON TOWN CENTER
VISITOR ANALYTICS – PLACER.AI
Fullerton Town Center
True Trade Area (63.95 sq. mi.)
Distance from Home Area
Distance Visits Percentage
0 - 3 Miles 3,820,000 46%
3 - 7 Miles 2,460,000 29%
7 - 10 Miles 470,000 5%
10 - 30 Miles 990,000 12%
30 - 50 Miles 170,000 2%
50 - 100 Miles 110,000 2%
100+ Miles 380,000 4%
Source: Placer.ai (Accessed March 2023)
T op 5 Home Locations (Zip Codes)
Zip Code City Visits Percentage
92805 Anaheim 1,100,000 12.8%
92801 Anaheim 817,400 9.7%
92833 Fullerton 709,800 8.5%
92832 Fullerton 616,300 7.4%
92831 Fullerton 451,000 5.4%
KOSMONT COMPANIES | 62
ORANGEFAIR MARKETPLACE
VISITOR ANALYTICS – PLACER.AI
• From March 1, 2022 to Feb. 28, 2023,
Orangefair Marketplace experienced
~79,800 median weekly visits
• Orangefair Marketplace captures from
a close trade area – 69% of visitors
come from within 7 miles of the
center
• Orangefair Marketplace has a steady
stream of visitors between noon and
9pm (with each hour having over
600,000 visits over the year). Visits
peak during the 6pm hour
• Visitation peaks on Wednesday and
Saturday
Source: Placer.ai (Accessed March 2023)
Current Visitor Data
Annual Visits 4.2 mil
Median Weekly Visits 79,800
Visit Frequency 4.0 visits / year
Median Visit Length 53 min.
Avg. HH Income $85K
*Visits between 3/22 – 2/23
Top: Michaels and Best Buy anchors at Orangefair
Marketplace
Above: Marshalls and Skechers Outlet anchors at
Orangefair Marketplace
KOSMONT COMPANIES | 63
ORANGEFAIR
MARKETPLACE
E. Orangethorpe Ave.
S. Harbor Blvd.
Lemon St.
KOSMONT COMPANIES | 64
ORANGEFAIR MARKETPLACE
VISITOR ANALYTICS – PLACER.AI
Orangefair Marketplace
True Trade Area (83.89 sq. mi.)
Distance from Home Area
Distance Visits Percentage
0 - 3 Miles 1,850,000 44%
3 - 7 Miles 1,020,000 25%
7 - 10 Miles 270,000 6%
10 - 30 Miles 660,000 16%
30 - 50 Miles 100,000 2%
50 - 100 Miles 60,000 2%
100+ Miles 240,000 5%
Source: Placer.ai (Accessed March 2023)
T op 5 Home Locations (Zip Codes)
Zip Code City Visits Percentage
92805 Anaheim 611,900 14.7%
92801 Anaheim 351,700 8.4%
92832 Fullerton 348,000 8.3%
92833 Fullerton 256,800 6.1%
92806 Anaheim 178,500 4.3%
KOSMONT COMPANIES | 65
FULLERTON CROSSINGS
VISITOR ANALYTICS – PLACER.AI
• From March 1, 2022 to Feb. 28, 2023,
Fullerton Crossings experienced
~71,300 median weekly visits
• 75% of visitors to Fullerton Crossings
come from within 7 miles of the
center; Fullerton Crossings does
capture more people from outside of
Fullerton – particularly from cities
south and east of Fullerton such as
Anaheim and Placentia
• Visits to Fullerton Crossings peaks
earlier compared to other centers.
Peak visits occur at noon and slowly
drop throughout the afternoon
• Visitation is higher Fridays through
Mondays, peaking Saturdays. Lower
visitation in the middle of the week
(Tuesday through Thursday)
Source: Placer.ai (Accessed March 2023)
Current Visitor Data
Annual Visits 3.7 mil
Median Weekly Visits 71,300
Visit Frequency 6.1 visits / year
Median Visit Length 32 min.
Avg. HH Income $101K
*Visits between 3/22 – 2/23
Top: Aerial of Fullerton Crossings showing Home
Depot and Sam’s Club anchors
Above: Sam’s Club anchor at Fullerton Crossings
KOSMONT COMPANIES | 66
FULLERTON
CROSSINGS
Kimberly Ave.
KOSMONT COMPANIES | 67
FULLERTON CROSSINGS
VISITOR ANALYTICS – PLACER.AI
Fullerton Crossings
True Trade Area (67.48 sq. mi.)
Distance from Home Area
Distance Visits Percentage
0 - 3 Miles 1,750,000 47%
3 - 7 Miles 1,040,000 28%
7 - 10 Miles 310,000 8%
10 - 30 Miles 440,000 12%
30 - 50 Miles 60,000 1%
50 - 100 Miles 30,000 1%
100+ Miles 100,000 3%
Source: Placer.ai (Accessed March 2023)
T op 5 Home Locations (Zip Codes)
Zip Code City Visits Percentage
92870 Placentia 591,600 15.9%
92805 Anaheim 411,400 11.0%
92806 Anaheim 365,300 9.8%
92831 Fullerton 258,900 6.9%
92886 Y orba Linda 155,700 4.2%
KOSMONT COMPANIES | 68
NORTH FULLERTON SHOPPING CENTER
VISITOR ANALYTICS – PLACER.AI
• From March 1, 2022 to Feb. 28, 2023,
North Fullerton Shopping Center
experienced ~24,500 median weekly
visits
• 76% of visitors to this center come
from 7 miles or less; Many visitors are
coming from neighboring cities such as
Brea and La Habra
• Visits to the North Fullerton Shopping
Center trend towards the late
afternoon/early evening with visits
peaking at the 6pm hour; The center
does have a steady stream of visitors
between noon and 8pm
• Saturdays and Mondays are the days
this center receives the most visits;
Visits drop slightly weekdays after
Monday but pick up on Saturdays
Source: Placer.ai (Accessed March 2023)
Current Visitor Data
Annual Visits 1.3 mil
Median Weekly Visits 24,500
Visit Frequency 3.9 visits / year
Median Visit Length 51 min.
Avg. HH Income $114K
*Visits between 3/22 – 2/23
Top: Floor and Décor anchor
Above: 24 Hr Fitness and Best Buy anchors
KOSMONT COMPANIES | 69
NORTH FULLERTON
Imperial Hwy.
S. Harbor Blvd.
KOSMONT COMPANIES | 70
NORTH FULLERTON SHOPPING CENTER
VISITOR ANALYTICS – PLACER.AI
North Fullerton Shopping Center
True Trade Area (56.26 sq. mi.)
Distance from Home Area
Distance Visits Percentage
0 - 3 Miles 555,600 43%
3 - 7 Miles 410,900 33%
7 - 10 Miles 83,500 6%
10 - 30 Miles 150,000 12%
30 - 50 Miles 20,000 1%
50 - 100 Miles 20,000 2%
100+ Miles 60,000 3%
Source: Placer.ai (Accessed March 2023)
T op 5 Home Locations (Zip Codes)
Zip Code City Visits Percentage
90631 La Habra 251,400 19.7%
92821 Brea 109,600 8.6%
92835 Fullerton 109,400 8.6%
90638 La Mirada 67,400 5.3%
92833 Fullerton 65,300 5.1%
KOSMONT COMPANIES | 71
FULLERTON UNIVERSITY SHOPPING CENTER
VISITOR ANALYTICS – PLACER.AI
• From March 1, 2022 to Feb. 28, 2023,
Fullerton University Shopping Center
experienced ~32,900 median weekly
visits
• 70% of visitors to the center come
from within 7 miles
• The center receives most of its
visitors in the afternoon and evenings
from 1pm to 8pm, with 4pm and 6pm
hours having the most traffic
• Visits peak on Saturdays, however
visits to the center remain consistent
throughout the week (i.e., there is no
significant drop in visits during the rest
of the week)
Source: Placer.ai (Accessed March 2023)
Current Visitor Data
Annual Visits 1.7 mil
Median Weekly Visits 32,900
Visit Frequency 4.0 visits / year
Median Visit Length 29 min.
Avg. HH Income $98K
*Visits between 3/22 – 2/23
Top: Target anchor
Above: Additional retail space at center
KOSMONT COMPANIES | 72
FULLERTON UNIVERSITY CENTER
Yorba Linda Blvd.
KOSMONT COMPANIES | 73
FULLERTON UNIVERSITY SHOPPING CENTER
VISITOR ANALYTICS – PLACER.AI
Fullerton University Shopping Center
True Trade Area (45.14 sq. mi.)
Distance from Home Area
Distance Visits Percentage
0 - 3 Miles 956,200 55%
3 - 7 Miles 253,800 15%
7 - 10 Miles 90,000 5%
10 - 30 Miles 260,000 15%
30 - 50 Miles 40,000 2%
50 - 100 Miles 40,000 2%
100+ Miles 100,000 6%
Source: Placer.ai (Accessed March 2023)
T op 5 Home Locations (Zip Codes)
Zip Code City Visits Percentage
92831 Fullerton 427,400 24.6%
92870 Placentia 374,500 21.6%
92886 Y orba Linda 83,600 4.8%
92806 Anaheim 72,300 4.2%
92835 Fullerton 63,800 3.7%
KOSMONT COMPANIES | 74
Mall Visitation Data
Distance from Visitor Home Area
0-3
Miles
3-7
Miles
7-10
Miles
10+
Miles
Orangethorpe Ave. /
Harbor Blvd. Node 48% 25% 6% 21%
Amerige Heights
Town Center 60% 20% 4% 16%
North Fullerton
Shopping Center 43% 33% 6% 18%
Fullerton University
Shopping Center 55% 15% 5% 25%
TRUE TRADE AREA COMPARISON: 3/1/22 TO 2/28/23
ORANGETHORPE AVE. / HARBOR BLVD.NODE VS CENTERS
Source: Placer.ai (Accessed March 2023)
Notes: True trade area represents 70% of visitors within the selected timeframe. The Orangethorpe Ave. / Harbor Blvd. Node contains Fullerton Metrocenter, Fullerton Town Center, and Orangefair Marketplace. We compared this major retail node in the southern end of the City to key shopping centers in the north (North Fullerton Shopping Center), west (Amerige Heights Town Center), and east (Fullerton University Shopping Center).
Visitor Data
Orangethorpe
Ave. / Harbor
Blvd. Node
Amerige
Heights
Town Center
North
Fullerton
Shopping
Center
Fullerton
University
Shopping
Center
Annual Visits 14.7 million 6.1 million 1.3 million 1.7 million Median Weekly
Visits 280,300 115,308 24,500 32,900
Visit Frequency
Per Year 6.5 visits 7.9 visits 3.9 visits 4.0 visits
Median Visit
Length (min.) 39 42 51 29
Avg. HH Income $92K $111K $114K $98K
KOSMONT COMPANIES | 75
Source: Placer.ai (Accessed March 2023)
Notes: True trade area represents 70% of visitors within the selected timeframe. The Orangethorpe Ave. / Harbor Blvd. Node contains Fullerton Metrocenter, Fullerton Town Center, and Orangefair Marketplace. We compared this major retail node in the southern end of the City to key shopping centers in the north (North Fullerton Shopping Center), west (Amerige Heights Town Center), and east (Fullerton University Shopping Center).
TRUE TRADE AREA COMPARISON: 3/1/22 TO 2/28/23
ORANGETHORPE AVE. / HARBOR BLVD.NODE VS CENTERS
(CONT’D)
KOSMONT COMPANIES | 76
▪ The Orangethorpe Ave. / Harbor Blvd. Retail Node
draws 70% of its visitors from a significantly larger
trade area compared to Amerige Heights, North
Fullerton, and Fullerton University town/shopping
centers
▪ The Retail Node captures large segments of visitors to both Amerige Heights Town Center (74%) and
Fullerton University Shopping Center (64%). However,
North Fullerton Shopping Center draws more visits
from areas further north and west such as Whittier,
Hacienda Heights, and Rowland Heights. Thus, North
Fullerton Shopping Center’s true trade area overlaps
46% with the retail node.
▪ The Retail Node, as well as the centers in this
comparison, have a more local appeal as each draw at a
minimum 70% of its visitors from within 7 miles
TRUE TRADE AREA COMPARISON: 3/1/22 TO 2/28/23
ORANGETHORPE AVE. / HARBOR BLVD.NODE VS CENTERS
(CONT’D)
Source: Placer.ai (Accessed March 2023)
Notes: True trade area represents 70% of visitors within the selected timeframe. The Orangethorpe Ave. / Harbor Blvd. Node contains Fullerton Metrocenter, Fullerton Town Center, and Orangefair Marketplace. We compared this major retail node in the southern end of the City to key shopping centers in the north (North Fullerton Shopping Center), west (Amerige Heights Town Center), and east (Fullerton University Shopping Center).
KOSMONT COMPANIES | 77
RETAIL LEAKAGE
(3/1/22 TO 2/28/23)
Source: Placer.ai (Accessed March 2023)
Note: Numbers in parentheses and in red indicate a negative number (leakage).
Retail categories featuring high retail
leakage among Fullerton residents include:
grocery stores, health and personal care
stores, and building material and supply
stores
UNMET RETAIL DEMAND BY RETAIL CATEGORY (FULLERTON RESIDENT PURCHASES) Retail Category Supply (Sales) $ Demand $ Unmet Demand ($) Online Sales Leakage Potential
Automobile Dealers 1,450.33 M 607.53 M 842.79 M Low
Other General
Merchandise Stores 514.15 M 322.09 M 192.07 M Medium
Gasoline Stations 326.02 M 253.28 M 72.74 M None
Full-Service Restaurants 235.72 M 206.14 M 29.58 M None Building Material & Supplies 211.31 M 190.01 M 21.29 M Low Department Stores 80.13 M 56.72 M 23.41 M Varies
Home Furnishings Stores 48.66 M 30.44 M 18.22 M Medium
Bars / Drinking Places 25.63 M 13.32 M 12.31 M None
Book & Music Stores 11.25 M 7.84 M 3.41 M High
Electronics & Appliance Stores 42.78 M 49.86 M (7.08 M) High Shoe Stores 10.92 M 18.26 M (7.34 M) High
Auto Parts / Accessories Stores 42.81 M 51.94 M (9.13 M) Low Clothing Stores 113.60 M 124.47 M (10.87 M) High
Health & Personal Care Stores 101.73 M 165.24 M (63.51 M) Medium Grocery Stores 163.18 M 322.77 M (159.59 M) Low
KOSMONT COMPANIES | 78
RETAIL LEAKAGE
MAP
Source: Placer.ai (Accessed January 2023)
The points on the map show the top
retail centers and establishments across
retail categories where Fullerton
residents shop. Numbers are ordered by
the number of visits made by Fullerton
residents to these locations.
It appears that Fullerton residents tend to
go just north of the City’s boundaries
(primarily Brea) to shop.
1 3 8
2 5
4 7
6 9
10 KOSMONT COMPANIES | 79
TOP AREAS OF
RETAIL LEAKAGE
(3/1/22 TO 2/28/23)
Source: Placer.ai (Accessed March 2023)
Note: Numbers in parentheses and in red indicate a negative number (leakage). *Shopping center formerly known as Buena Park Place
Top 10 Areas Where Fullerton Resident Sales Are Leaking (by Number of Visits) Rank Location GLA (SF) City Anchor Tenants /
Major Retail # of Visits Average Distance
From Home (mi)
1 Brea Mall 1,319,339 Brea Macy’s, JCPenney, Nordstrom, H&M, Forever 21 1,271,533 3.13
2 Brea Union Plaza 1,208,212 Brea Walmart, Home Depot, Ross, Burlington, Nordstrom, Staples 734,380 2.62
3 Brea
Marketplace 352,678 Brea Target, 24 Hr Fitness, Sprouts 594,685 2.47 4 La Habra
Marketplace 376,849 La Habra
Hobby Lobby, LA Fitness,
Sprouts, Smart & Final,
Regal Cinemas 16, Ross
467,196 2.76
5 Imperial East
Shopping Center 211,626 Brea Albertson’s, Trader Joe’s, TJ Maxx, Petco, Bob’s Furniture 453,851 2.53
6 The Source 598,673 Buena Park CGV Cinemas 8, many after- school services and e-sports 443,648 3.32
7 Los Coyotes
Shopping Center 137,279 Buena Park Super 1 Mart (Korean grocer) 424,823 2.74 8 Brea Plaza
Shopping Center 93,239 Brea
DSW, DXL, Mother’s Market
and Kitchen (health food
grocer), Total Wine
382,428 2.51
9 Buena Park
Downtown* 874,361 Buena Park
Walmart, Bed Bath & Beyond,
Ross, TJ Maxx, DSW,
Krikorian Metroplex 18
376,324 2.99
10 Anaheim Plaza 496,166 Anaheim Walmart, El Super, Smart & Final, Ross, TJ Maxx, Ulta, Petco 357,533 2.56
KOSMONT COMPANIES | 80
THEATER COMPARISON (10-MILE RADIUS)
Source: Placer.ai (Accessed March 2023)
Notes: True trade area represents 70% of visitors within the selected timeframe.
KOSMONT COMPANIES | 81
THEATER COMPARISON (COMPETING CENTERS)
Source: Placer.ai (Accessed March 2023)
Notes: True trade area represents 70% of visitors within the selected timeframe.
KOSMONT COMPANIES | 82
THEATER TRUE TRADE AREA COMPARISON:
3/1/22 TO 2/28/23
Source: Placer.ai (Accessed March 2023)
Notes: True trade area represents 70% of visitors within the selected timeframe.
KOSMONT COMPANIES | 83
CITY OF FULLERTON
RETAIL MARKET STRATEGY
2301 Rosecrans Ave., Suite 4140
El Segundo, CA 90245
TEL: 424-297-1070 | URL: www.kosmont.com
KOSMONT COMPANIES | 84
APPENDIX
CITY OF FULLERTON – RETAIL MARKET STRATEGY
KOSMONT COMPANIES | 85
49% 47%
4%
55%
40%
5%
52%
41%
7%
Owner Occupied Renter Occupied Vacant
Fullerton
Orange County
California
HOUSING BY TENURE - 2022
FULLERTON HAS SIMILAR AMOUNT OF OWNERS VS RENTERS
Avg. HH Size
Fullerton 2.89
Orange County 2.91
California 2.86
Source: ESRI Business Analyst Online (Accessed March 2023) KOSMONT COMPANIES | 86
Source: Zillow.com (Accessed March 2023)
County
City
California
$986K
$328K
$719K
USA
$885K
HOME VALUE HISTORY
2015 - 2023
KOSMONT COMPANIES | 87
JOBS / HOUSING
BALANCE
2022 Fullerton
City
Orange
County
California
State
Employment 59,221 1,631,636 16,426,737
Households 48,711 1,082,175 13,570,050
Jobs / Housing Ratio 1.22 1.51 1.21
Source: ESRI Business Analyst Online (Accessed June 2021; Updated February 2023) KOSMONT COMPANIES | 88
Industry 2018 2028
Annual
Growth
2018-2028
Total
Growth
2018-2028
Total
Change
2018-2028
Health Care and Social Assistance 195,400 229,700 3,430 34,300 17.6% Professional and Business Services 317,000 346,500 2,950 29,500 9.3% Accommodation and Food Services 171,700 185,700 1,400 14,000 8.2% Financial Activities 118,700 126,100 740 7,400 6.2%
Construction 106,300 113,000 670 6,700 6.3%
Arts, Entertainment, and Recreation 51,000 56,500 550 5,500 10.8% Government 161,200 166,600 540 5,400 3.3%
Educational Services (Private) 29,300 33,900 460 4,600 15.7% Transportation and Warehousing 26,200 30,200 400 4,000 15.3% Retail Trade 152,600 156,000 340 3,400 2.2%
Information 26,700 29,700 300 3,000 11.2%
Other Services 51,400 53,700 230 2,300 4.5%
Wholesale Trade 79,800 81,400 160 1,600 2.0%
Utilities 3,000 3,200 20 200 6.7%
Mining and Logging 500 400 (10) (100) (20.0%)
Manufacturing 160,700 156,900 (380) (3,800) (2.4%)
Total Nonfarm 1,651,500 1,769,500 11,800 118,000 7.1%
Total Other 110,800 118,900 810 8,100 7.3%
Total Farm 2,000 1,900 (10) (100) (5.0%)
Total Employment 1,762,300 1,888,400 12,610 126,100 7.2%
EMPLOYMENT
PROJECTIONS BY
INDUSTRY
ORANGE
COUNTY
Source: California Employment Development Department, (2018, Accessed March 2023) Notes: Total other refers to self-employed and private household workers. Numbers in parentheses and in red indicate negative numbers.
KOSMONT COMPANIES | 89
EMPLOYMENT BY INDUSTRY
CITY OF FULLERTON
Resident Employed Population (Age 16+)
Sector Share
Health Care and Social Assistance 13.5%
Accommodation and Food Services 10.0%
Educational Services 9.8%
Retail Trade 9.1%
Manufacturing 8.7%
Administration & Support, Waste Management and Remediation 7.5% Professional, Scientific, and Technical Services 6.3%
Wholesale Trade 6.3%
Construction 5.5%
Finance and Insurance 3.7%
Transportation and Warehousing 3.3%
Arts, Entertainment, and Recreation 3.2%
Public Administration 3.2%
Other Services (excluding Public Administration) 2.8%
Information 2.2%
Management of Companies and Enterprises 1.9%
Real Estate and Rental and Leasing 1.9%
Utilities 0.5%
Agriculture, Forestry, Fishing and Hunting 0.5%
Mining, Quarrying, and Oil and Gas Extraction 0.1%
Workers Employed in City (Age 16+)
Sector Share
Health Care and Social Assistance 17.2%
Educational Services 14.7%
Accommodation and Food Services 12.3%
Manufacturing 12.0%
Retail Trade 11.1%
Construction 5.1%
Administration & Support, Waste Management and Remediation 4.9% Professional, Scientific, and Technical Services 4.3%
Wholesale Trade 3.7%
Management of Companies and Enterprises 2.9%
Other Services (excluding Public Administration) 2.9%
Transportation and Warehousing 2.7%
Finance and Insurance 1.5%
Arts, Entertainment, and Recreation 1.2%
Real Estate and Rental and Leasing 1.2%
Public Administration 1.0%
Information 0.8%
Utilities 0.4%
Mining, Quarrying, and Oil and Gas Extraction 0.0%
Agriculture, Forestry, Fishing and Hunting 0.0%
“Industries in which City residents work” “Jobs in the City” Source: U.S. Census Bureau Center for Economic Studies (2019, Accessed March 2023); Notes: Categorized by North American Industry Classification System (NAICS) Industry Sectors KOSMONT COMPANIES | 90
Outflow:
Where Residents Commute To For Work
City Count Percentage
Fullerton city, CA 7,026 10.7%
Anaheim city, CA 6,999 10.7%
Los Angeles city, CA 5,297 8.1%
Irvine city, CA 2,928 4.5%
Santa Ana city, CA 2,858 4.4%
Orange city, CA 2,755 4.2%
Brea city, CA 2,482 3.8%
Buena Park city, CA 1,648 2.5%
Garden Grove city, CA 1,212 1.9%
Santa Fe Springs city, CA 1,063 1.6%
Costa Mesa city, CA 1,012 1.5%
Long Beach city, CA 1,006 1.5%
Placentia city, CA 929 1.4%
Tustin city, CA 859 1.3%
Cerritos city, CA 853 1.3%
San Diego city, CA 838 1.3%
La Habra city, CA 788 1.2%
Industry city, CA 723 1.1%
Huntington Beach city, CA 717 1.1%
Newport Beach city, CA 707 1.1%
La Mirada city, CA 609 0.9%
Cypress city, CA 592 0.9%
Yorba Linda city, CA 560 0.9%
Whittier city, CA 505 0.8%
Norwalk city, CA 493 0.8%
All Other Locations 19,998 30.6%
Inflow:
Where Workers Come From
City Count Percentage
Fullerton city, CA 7,026 11.1%
Anaheim city, CA 5,639 8.9%
Los Angeles city, CA 2,823 4.4%
Santa Ana city, CA 1,976 3.1%
La Habra city, CA 1,710 2.7%
Placentia city, CA 1,542 2.4%
Garden Grove city, CA 1,498 2.4%
Buena Park city, CA 1,467 2.3%
Orange city, CA 1,400 2.2%
Long Beach city, CA 1,342 2.1%
Yorba Linda city, CA 1,276 2.0%
Brea city, CA 1,261 2.0%
Huntington Beach city, CA 850 1.3%
La Mirada city, CA 829 1.3%
Irvine city, CA 776 1.2%
Whittier city, CA 775 1.2%
Corona city, CA 749 1.2%
Norwalk city, CA 726 1.1%
Riverside city, CA 622 1.0%
Westminster city, CA 600 0.9%
South Whittier CDP, CA 565 0.9%
San Diego city, CA 545 0.9%
Tustin city, CA 537 0.8%
Pomona city, CA 524 0.8%
Chino Hills city, CA 507 0.8%
All Other Locations 25,942 40.8%
WORKER
DESTINATIONS &
ORIGINS
CITY OF
FULLERTON
Source: U.S. Census Bureau Center for Economic Studies (2019, Accessed March 2023)