Many of you may have already noticed that a significant amount of businesses in Los Gatos have been closing their doors for good over the past three years.
So, what’s to blame for the closing of our beloved hang-outs within such a short time?
Most will blame the rising costs of rent in Los Gatos real estate for the closure of these institutions, however, the situation is not that grim!
The good news is only one business of the below 10, have conceded to closing their shop due to high rent.
Read for yourself and rest assured Los Gatos real estate is doing just fine and dandy.
1. Opa owners were quoted, “Unfortunately, we were not able to negotiate favorable enough rent terms that made sense for us to continue on in the location — it’s competitive on the avenue and in downtown Los Gatos.”
2. Powell’s Sweet Shoppe located at 35 N. Santa Cruz closed late last year in 2018 as its owner wanted to downsize.
3. California Café was a beloved restaurant that opened in Los Gatos in 1985 and closed in 2016. Fun fact about this place is that it rose to fame in 1993 when then-president Bill Clinton dined there. This business closed because their lease was up and they had plans to remodel, however, those plans are still pending.
4. Grill 57 Bar & Restaurant experienced recent management changes which is supposedly to have been the reason for their demise.
5. Gilley’s Coffee Shoppe was open for 36 years before they closed it last September due to family obligations.
6. C.B. Hannegan’s first opened its doors in the fall of 1979 and closed them for one last time in December of 2017 because of the fact that the owners wanted to move on with life to either retire and/or focus on other projects.
7. Viva – Los Gatos opened in 2003 and recently closed to reasons unbeknownst to us.
8. Jack Rose Libation House was sold to a housing development in Monte Sereno. Random fact about the infamous drink called ‘Jack Rose’ is that it used to be a favorite of John Steinbeck, who once lived a half-mile down the road.
9. Gymboree in Los Gatos closed because the company itself filed for bankruptcy as it couldn’t compete with online retailers anymore, so this by no means reflects a personal influence by Los Gatos.
10. LGBG (Los Gatos Bar & Grill) opened back in 2001 and closed two months ago in February. As far as we know there was no explanation of why they closed either.
Now that we have cleared the air about all of these changes in Los Gatos, allow us to please remind you that summer’s around the corner… a great time to buy or sell!
Home listings in Los Gatos are selling for over listed-price and there are a plethora of potential buyers that want to reside in Los Gatos for its stable economy, access to silicon valley, its gorgeous scenery, picturesque parks and amicable community.
Rest assured, and expect the Best from Los Gatos?!