Terranomics Significant Retail Transactions – November 30, 2011
Wednesday, November 30, 2011
Lucky Strike Lanes Rolling into Former Border’s Space in San Francisco’s SoMa
November 30, 2011 –Rhonda Diaz Caldewey and Jessica Birmingham with Terranomics Retail Services represented landlord Invesco Real Estate in the lease of 22,247 square feet of space at 200 King Street in San Francisco. The tenant is Creative Entertainment Concepts, LLC dba Lucky Strike Lanes, an upscale bowling alley/lounge. Well positioned in San Francisco’s SoMa at King and 3rd Streets, the space is situated on the ground floor of The Beacon residential condominium project about a stone’s throw from AT&T Park (San Francisco Giants baseball stadium). It previously housed a Border’s bookstore. Lucky Strike, which penned a long-term lease for the space, is currently underway on construction of its new SoMa upscale bowling alley and plans to open in early 2012.
Operating in more than 20 countries, Invesco is a leading independent global investment manager, providing a wide range of investment strategies and vehicles to retail, institutional, and high net worth clients around the world.
Former P&W Supermarket Site in Southwest San Jose Filled by Grocery Outlet and Other Potential Tenants
November 30, 2011 – Jon Stansbury and James Gaglione with Terranomics Retail Services represented landlord Fremont Center Plaza, LLC in the lease of 19,247 square feet of retail anchor space at 1665 Foxworthy Avenue in southwest San Jose. The new tenant is Grocery Outlet, which signed a long-term agreement and will be filling more than half of the ±33,288-square-foot property that was once fully occupied by P&W Supermarket. Stansbury and Gaglione are also currently negotiating with other Tenants for the residual ±14,041-square-foot space. The site is situated and easily accessible at the NWC at the signalized intersection of Foxworthy Avenue and Meridian Avenue and predominantly services the San Jose community of Willow Glen.
Old Navy Re-Docks in New Space at Marketplace at Birdcage in Sacramento Valley
November 30, 2011 – Drew Greenspan and Staci Eisler Cole with Terranomics Retail Services represented tenant Old Navy in the long-term lease of 15,000 square feet of new end cap space within the Marketplace at Birdcage shopping center in the Sacramento Valley. Located in the city of Citrus Heights, about 15 miles northeast of Sacramento, the property is positioned at the SWC of Sunrise Boulevard and Greenback Lane. The center is owned by LaSalle Partners.
BJ’s Restaurant & Brewhouse Orders Up A Round at Harden Ranch Plaza in Salinas
November 30, 2011 – Mike Costa and Todd Oliver with Terranomics Retail Services represented tenant BJ’s Restaurant, Inc. in the new long-term lease of 8,500 square feet of space at the Harden Ranch Plaza in Salinas. Anchored by Target and Wal-Mart, Harden Ranch Plaza is located at North Main Street and Harden Parkway. It is owned by Salinas Shopping Center Associates L.P. Scheduled to open in mid 2012, BJ’s Restaurant & Brewhouse will join national tenants such as Target, Wal-Mart, Safeway plus numerous other retailers in the Plaza. BJ's Restaurants, Inc. currently owns and operates 115 casual dining restaurants. The Company's restaurants are located in California (56), Texas (24), Arizona (6), Colorado (4), Oregon (2), Nevada (5), Florida (8), Ohio (3), Oklahoma (2), Kentucky (1), Indiana (1), Louisiana (1) and Washington (2). Visit BJ's Restaurants, Inc. on the Web at http://www.bjsrestaurants.com.
The Habit Burger Grill Forming Habit of New Restaurants in Northern California
November 30, 2011 –Annie Jabuka, Michael Seigel and John Schaefer with Terranomics Retail Services represented tenant The Habit Burger Grill in two lease transactions for new restaurant openings in the South Bay and the East Bay areas. In the first transaction, Jabuka and Seigel represented The Habit in the lease of 2,103 square feet of end cap space at the Sunnyvale Shopping Center in Sunnyvale at 144 West El Camino Real. The property is owned by The Leung Trust. In the second transaction, Jabuka and Schaefer represented The Habit in its lease of 2,205 square feet of end cap space at the Pleasanton Gateway Shopping Center in Pleasanton. That property is owned by Property Development Centers, LLC. The Habit Burger Grill is a chain founded more than forty years ago in Goleta (Santa Barbara).
Armstrong Development Acquires ±1.72 Acre Site for New CVS/pharmacy Development; CVS Relocating Across Street
November 30, 2011 – Bob Dong and Jared Dong with Terranomics Retail Services represented seller Florin & Freeport, LLC in the sale of a ±1.72 acre vacant parcel in Sacramento. The land is located at the main intersection of the SEC Florin Road and Freeport Boulevard, about a half mile from Interstate 5. The buyer was Armstrong Development Properties, which will be developing a brand new retail building to house a new CVS/pharmacy store on the property. CVS, the second largest pharmacy chain in the United States (after Walgreens), will be relocating its existing store currently located right across the street on the northwest corner of the same intersection.
Cycle Gear Jumps to New San Diego Location at Hawthorne Crossing
November 30, 2011 – Don Krieger with Terranomics Retail Services represented tenant Cycle Gear in a new lease of 13,818 square feet of in-line space at the Hawthorne Crossing shopping center in San Diego. The property is owned by American Fund US. Cycle Gear, America's largest specialty retailer of motorcycle parts, apparel and accessories, relocated from another site within the city and recently opened its new location earlier this month.
AutoZone Pulling in to New Site in Newark
November 30, 2011 – Jon Stansbury and James Gaglione with Terranomics Retail Services represented tenant AutoZone in a lease of 6,816 square feet of pad space at 35000 Newark Boulevard in Newark. Formerly a Cattlemen’s, the property is located just off Highway 84, between the Dumbarton Bridge and Interstate 880. The owner is Imwalle Properties. AutoZone will open its newest Northern California location in early 2012.
Red Robin to Remain Perched at Eastridge Mall for Long-Term
November 30, 2011 – Tina Essegian with Terranomics Retail Services represented tenant Red Robin Gourmet Burgers in the lease renewal of its 6,600-square-foot restaurant space at the Eastridge Mall in East San Jose. Red Robin recommitted to the space long term. Eastridge Mall is owned by General Growth Properties. Red Robin Gourmet Burgers first opened in Seattle in 1969 and now has more than 450 restaurants across the U.S. and Canada.
Sleep Train Stays on Main Thoroughfare Track, El Camino Real, in Downtown San Mateo
November 30, 2011 – Todd Oliver with Terranomics Retail Services represented tenant Sleep Train in a lease of 5,753 square feet of end cap space at 491 South El Camino Real in downtown San Mateo. The property is owned by Park Village, LLC and is part of the Central Park Plaza on the corner of El Camino Real and East Fifth Avenue. The space is subleased from East West Bank and converts to a long term direct lease with the Landlord.
San Francisco’s Oceanview Village Catches New Tenant, JP Morgan Chase Bank
November 30, 2011 – Todd Oliver and Matt Taylor with Terranomics Retail Services represented landlord Culligan Enterprises, L.P. in a lease of 5,784 square feet of end cap space at the Oceanview Village Shopping Center in San Francisco. The new tenant is JP Morgan Chase Bank, which penned a long-term agreement and will be opening in December.
E*Trade Leases Brand New Freestanding Building Near Apple HQ in Cupertino
November 30, 2011 – Rhonda Diaz Caldewey with Terranomics Retail Services in collaboration with Annette Healey of CB Richard Ellis represented tenant E*Trade Brokerage Services in the lease of a 4,864-square-foot freestanding building in Cupertino. The property is located at 10212 North De Anza Boulevard and was recently constructed in 2010. It is owned by 10212 North De Anza, LLC. The property, once a Mercedes auto repair shop, is positioned next to Donut Wheel down the street from Apple, Inc.’s worldwide headquarters.
Elk Grove Urgent Care Opens New Clinic in Sacramento
November 30, 2011 – Shaun Morrow with Terranomics Retail Services represented tenant Elk Grove Urgent Care, Inc. in a 10-year lease for 3,038 square feet for a new urgent care clinic in Sacramento. Operated by three doctors, the clinic recently opened at 7200 South Land Park Drive at a well-located corner pad building on busy Florin Road, in the Pocket-Greenhaven neighborhood of Sacramento. This is the second urgent care clinic to be opened by the doctors.