Quick Take

In her weekly look at local business, Jessica M. Pasko runs down comings and goings in downtown Santa Cruz, including fintech company Paystand moving its headquarters to the Rittenhouse Building. She's also got names, numbers and events to know.

Each week, we’re taking a closer look at the movers and shakers, the growth of industries, and what’s really driving the Santa Cruz County economy. I’ll be spotlighting some of the biggest areas for opportunity, updates on local development and all things underpinning the regional business scene each Wednesday.

Got ideas? Send them my way to news@lookoutlocal.com with “Business News” in the subject line.

As downtown Santa Cruz changes continue, new tenants on deck for Pacific Avenue

Following a trio of high-profile closures of businesses in downtown Santa Cruz, a few new tenants are on the horizon.

New Leaf Community Markets closed its store at Pacific and Soquel avenues last fall in anticipation of a move to River Street, but it looks as though that space might not be vacant for too much longer. The real estate firm that represents the 9,000-square-foot store has signed a letter of intent with a national retailer. Though details are sparse at this time, Cushman & Wakefield Managing Director Reuben Helick told Lookout he expects everyone will be happy about the new tenant – though it’s not a grocery store.

Meanwhile, fintech company Paystand recently moved its headquarters from Scotts Valley to the E.C. Rittenhouse Building at Pacific Avenue and Church Street, taking over offices formerly occupied by Google. CEO Jeremy Almond said the move underscores his commitment to Santa Cruz County as the company continues to grow. Paystand uses blockchain technology to help companies pay vendors directly without relying on paper checks, among other transactions. The company is focused on establishing itself as “the Venmo of business payments.”

Business-to-business payments platform Paystand has moved into the E.C. Rittenhouse Building in downtown Santa Cruz from its former headquarters in Scotts Valley. Credit: Kevin Painchaud / Lookout Santa Cruz

Also new to Pacific Avenue are a pair of food businesses that have moved into the city-owned kiosks. Gabrielita Tamaleria (located near the corner of Pacific and Soquel avenues, close to Cafe Delmarette) is from the team at Gabriella Cafe, offering a full menu of tamales, burritos and more, while Crepe Cones (outside Bookshop Santa Cruz) specializes in all things crepes. 

ICYMI: What’s going on at the Westside’s Old Wrigley Building?

The Old Wrigley Building represents a whopping 385,000 square feet of commercial and industrial space, which has been a challenge to keep filled for 20 years. Credit: Kevin Painchaud / Lookout Santa Cruz

In the latest installment of Ask Lookout, Wallace Baine takes a closer look at what’s happening at the Old Wrigley Building on the Westside of Santa Cruz. The Wrigley Company closed its gum factory in 1997 and local developer William Ow took over the building in 2004. Since then, Ow has helped transform it into an ecosystem of small businesses and creative spaces, in addition to housing Santa Cruz Bicycles’ showroom and factory. Among the tenants of the revamped building are Capstan Medical, SwellCycle and the R. Blitzer Gallery.

Ch-ch-changes: Openings, closings and other developments

  • UC Santa Cruz Arboretum appoints new executive director: Rick Flores is the new leader of the arboretum and botanic garden at UC Santa Cruz. Flores began working at the arboretum as a college senior and has held several positions there, including curator of the California Native Plant Collection, director of horticulture and associate director. He’s also served as steward of the Amah Mutsun Relearning Program, which he’s led since its inception in 2009, working closely with the tribe on educational efforts around the uses and cultivation of California native plants. Prior to Flores, Andrea Cohen served as interim executive director following the departure of Martin Quigley.
  • Universal Audio participating in support for Los Angeles musicians: Scotts Valley-headquartered Universal Audio is among the music industry manufacturers participating in a fundraiser for musicians affected by the wildfires in Southern California, an effort spearheaded by guitar maker Gibson, its nonprofit arm, and retailer Guitar Center. The initiative is focused on supporting the recovery of music programs and musicians affected by the fires, and is also raising money for other relief efforts throughout the region. For more details, go here.
  • Merge4 socks launches support efforts for L.A. fire victims: Santa Cruz-based sock company Merge4 is also among local companies helping those in need in the wake of the Southern California fires. Under the “Socks of Support” initiative, customers can directly donate socks through Merge4’s website and for every pair donated, Merge4 will contribute another pair. Donated socks will be distributed to victims of the fires in partnership with trusted relief organizations. 
  • New union contract gives home care workers increased pay: Home care workers in Santa Cruz County will get a boost in pay following a new contract agreement. Service Employees International (SEIU) Local 2015 represents more than 3,000 employees in the county who provide in-home and long-term care services. Under a new contract set to go into effect in March, those workers will get a wage supplement that increases hourly wages to $20.50.
  • Capstan Medical hires new research & development leader: Capstan Medical, which is working on a minimally invasive solution for treating certain types of heart valve disease, has hired Greg Dachs as head of research and development. Dachs previously served as senior vice president of engineering at Carbon, a 3D printing firm, and he spent years with Intuitive Surgical, a company focused on robotics-based surgery technology. Capstan Medical, based on the Westside of Santa Cruz, recently raised a $110 million funding round and it is preparing to begin patient trials later this year. 
  • New board members for Unnatural Products: Santa Cruz-based Unnatural Products is bringing on two new board members, Abbas Kazimi and Mert Aktar. Kazimi is currently the chief business officer at privately held biotech company Nimbus Therapeutics, while Aktar serves as CEO of Receptive Bio, a pharmaceutical and biotech company. Unnatural Products, headquartered on the Westside, has developed a platform to enable new treatments for certain types of rare cancers and diseases that have been resistant to other therapies. The company was founded by UC Santa Cruz researchers.

Got hires, promotions, or departures to report? Send them to news@lookoutlocal.com with the subject line “Career changes.”

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Looking at the numbers

  • 37: That’s how many of the county’s coffee shops and cafes have signed up so far to participate in the “bring your own cup” program launched by Waste Free Santa Cruz, a volunteer organization focused on reducing waste and pollution. Customers are offered incentives like extra discounts for bringing their own reusable cups to participating businesses, which are listed here. The program is aimed at decreasing the number of single-use cups and lids that end up in local landfills. 

Save the date

  • Thursday, Jan. 23: The Santa Cruz County Chamber of Commerce hosts its first business after-hours event of 2025 at the Marriott Courtyard hotel at 313 Riverside Ave. in Santa Cruz. Details and registration for the event, which runs from 5 to 7 p.m., are here.
  • Thursday, Jan. 23: The Aptos Chamber of Commerce holds its next chamber luncheon at Seascape Golf Course from 11:30 a.m. to 1 p.m. Karley Pope, director of marketing and sales for the Santa Cruz Beach Boardwalk, will present on the past, present and future of the boardwalk. More info here.
  • Thursday, Jan. 30: UC Santa Cruz is hosting a panel discussion and networking session  focused on innovative women working in climate tech at the UCSC Hay Barn from 4:30 to 7 p.m. Participants include Cruz Foam chief marketing officer Leslie Nakajima, sustainability leader and entrepreneur Martina Doleshal and Kim Kolt, a general partner at Bay Bridge Ventures, a climate-focused venture capital firm. UCSC professor of computational media Sri Kurniawan will moderate. More details here.
  • Thursday, Feb. 6: The Santa Cruz County Chamber of Commerce will hold a business after-hours event at Far West Fungi, 224 Laurel St., Santa Cruz from 5 to 7 p.m. The event features networking, food and drinks. Registration and details here.
  • Thursday, Feb. 13: The Santa Cruz County Chamber of Commerce will host its annual members meeting at the Dream Inn in Santa Cruz from 8 a.m. to 10 a.m. Details and registration here.
  • Thursday, Feb. 20: Pajaro Valley Business Builders will host its next business mixer from 5 to 7 p.m. at the Hampton Inn & Suites, 75 Lee Rd. in Watsonville. 
  • Monday, Feb. 24: Monterey Bay Economic Partnership President and CEO Tahra Goraya and Santa Cruz County Bank CEO Krista Snelling are among 50 women leaders who will take part in the Silicon Valley Business Journal’s Mentoring Monday event. The event brings together the region’s top businesswomen and other leaders to share their stories and tips for success. It takes place from 8:30 to 11:30 a.m. at Villa Ragusa, 35 S. Second St., Campbell. Tickets and more details here.

Add your business or networking events to Lookout’s free public calendar, BOLO. Click here to add your event.

Business news worth reading

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Jessica M. Pasko has been writing professionally for almost two decades. She cut her teeth in journalism as a reporter for the Associated Press in her native Albany, New York, where she covered everything...