Image Credit: Cody Lassiter
(North County Beat) – An independent bookstore and a local salon in Carlsbad Village both closed earlier this summer after the expiration of a longtime property manager’s ground lease, which had provided the tenants with below-market rent.
Farenheit 451 Books, known for its motto “a candy store for the mind,” served the community for 17 years from its location in the Carlsbad Village Professional Building. The store’s owner, P.J. Phillips, stated that the new landowner and building manager, Pacific Coast Investments, did not offer to renew his lease after it expired in mid-July. Phillips revealed that under the previous manager, Marty Rombotis, who managed the building under a 52-year lease, his rent was $2.12 per square foot. However, Pacific Coast Investments planned to charge tenants up to four times that amount and did not offer Farenheit 451 Books a new lease.
“Just another landowner that exterminates bookstores,” Phillips remarked, expressing frustration as he tried to sell his business before leaving the Village. “It’s an old, old story. I’ve watched a few thousand go down during the 33 years I’ve been a bookseller. It’s always the same story.”
Laura Duong, the owner of Carlsbad Salon District, which was located next to the bookstore, also closed her doors last month due to the significant rent increase imposed by Pacific Coast Investments. Duong, who ran the salon in the Village for 15 years, stated that the new rent was three times higher than what she was paying. She searched for new locations in Carlsbad and Oceanside but found them unaffordable. Now approaching 60, Duong expressed uncertainty about her future, saying she no longer sees herself reopening her salon. “I had bought that salon back when I was in my early 30s, and now I’m almost 60 and too old to start all over again,” she said.
Pacific Coast Investments, a Newport-based real estate development company, acquired the Carlsbad Village Professional Building after Rombotis’ lease expired. The company’s owner, Allyson Presta, explained that Rombotis had kept rent prices low to allow businesses like the bookstore and salon to stay open, but he was “barely breaking even.”
“The unfortunate issue is that now that Marty (Rombotis) is not there, okay, the property taxes have to be paid,” Presta said. “The property taxes are thousands and thousands of dollars per month.” Presta, who describes herself as an avid reader, said she didn’t want to see the bookstore leave the Village but couldn’t maintain the previous rates. “I would love to be able to rent the space at substantially lower rates,” Presta said. “But that is impossible because I can’t pay the bills.”
Presta mentioned that she offered Duong an under-market rate, but Duong declined the offer. Now, Presta envisions the space becoming an ice cream shop, with a sandwich or taco spot potentially replacing the bookstore. “We get a lot of visitors who come to enjoy the beautiful beach and the charm of Carlsbad and downtown Carlsbad,” Presta said. “It would be nice to have someplace to get a reasonably priced lunch or salad.”
Marty Rombotis, whose father and uncle built and managed the Carlsbad Village Professional Building since it opened in 1984, noted that he had lowered rents to help business owners survive the pandemic and kept rates low to retain tenants during the final years of his lease. “(Presta)’s probably smarter than I am about real estate,” Rombotis acknowledged. “Where the bookstore and the salon were, that’s prime real estate, and it did deserve more rent than what I was charging. My family and my uncle, his heirs were making a reasonable living off of it, and I’m just an easygoing guy and don’t like to make waves, so I kept it low intentionally.”
Rombotis expressed disappointment at seeing local businesses being priced out of the Village and voiced concerns about parking issues that might arise with food establishments replacing the previous tenants. “I feel really bad for Phil,” Rombotis said, referring to the bookstore owner. “We were good friends. He had so many clients and they wanted to sign petitions to keep the bookstore open. He was just loved by his clientele.”
Christine Davis, executive director of the Carlsbad Village Association, shared the community’s sadness over the closure of Farenheit 451 Books and expressed hope that the bookstore might find a new location to reopen in downtown Carlsbad. “We were all very sad to learn that Farenheit 451 Books could not remain where they were due to the new development, as they were the only bookstore in Carlsbad Village,” Davis said in a statement. “And they were a part of its history and fabric.”
