Jack’s Surfboards has purchased a 10,118 square-foot building in downtown San Clemente across the street from Avila’s El Ranchito on Avenida Del Mar, said Jamal Abdelmuti, a Jack’s owner.
Jamal said the only way to get into San Clemente was to buy the building, which comes with a 8,000 square-foot parking lot. He said Jack’s had eyed San Clemente previously, and renewed its focus after its plan to open in Laguna Beach fell through.
Jack’s has already talked to the city about its plans for the property, which is zoned for retail, and does not expect the same issues that it faced with the city of Laguna Beach, Jamal said.
Jamal said it’s somewhat risky to make this investment in a tough economy, but Jack’s feels strong enough to handle the expansion. He said business if flat, but better than many other retailers.
David Knowlton of NAI Capital in Newport Beach, who represented Jack’s, said in a press release that the transaction was valued at $6.2 million.
Jack’s expects to open in San Clemente in spring, 2009. Jack’s will also open a new store at Oak Creek shopping center in Irvine, most likely in August this year.
Jack’s operates stores in Huntington Beach (men’s and women’s), Corona Del Mar, Dana Point and Newport Beach.
