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Here's a rundown of some of the latest Bay Area retail deals handled by Terranomics, the retail brokerage division of regional commercial real estate services firm NAI BT Commercial. We'll kick off this report in San Jose, where SJ Winchester Pavilion LLC paid $6.54 mil for Winchester Pavilion, a 17.2k sf ($380/sf) retail strip center at 700-750 South Winchester Blvd. The two-building property is situated in the city's western region, across from Toys 'R Us and nearby Century Theatres, Santana Row and Westfield Valley Fair. It is 80% leased to such tenants as Pizza Hut, Cingular Wireless, Honeybaked Ham, and H&R Block. Terranomics' Jon Stansbury and James Gaglione brokered the deal for the seller, Winchester Pavilion LLC.
In Morgan Hill, a NoCal town situated south of San Jose off Hwy 101, C4CE Inc, dba Dickey's BBQ, agreed to a lease for 2.6k sf of space at the new Target-anchored Morgan Hill Shopping Center, located at the northeast corner of Cochrane Ave and Hwy 101. Dickey's is scheduled for occupancy in the first quarter of 2009, while recent openings that have already taken place at the Center have included DSW and Circuit City. The property owner, Browman Development, was represented by Katie Walsh and Matt Kircher of Terranomics.
About 25 miles to the north, in the city of Campbell, Massage Envy signed a long-term lease for 3k sf of space at The Pruneyard, located at the intersection of Campbell Ave and Bascom Ave. The property is owned by Equity Office Properties. James Chung and Matt Taylor of Terranomics handled matters for Massage Envy, which has opened several new locations throughout the Bay Area in the past few years.
In a Contra Costa County deal, SL Ventures Inc, dba Snap Fitness, took 2.4k sf of space at the Village Oaks shopping center, located at 6200 Center St in the town of Clayton. Snap Fitness, a privately owned and operated fitness chain based in Minnesota, will be open to members at this location beginning later this year. They were repped in the deal by Terranomics' Katie Walsh, who is currently working with the firm on several more future locations in the Bay Area, including such places as Fremont, Martinez, Pleasanton and Mountain View.
Closer to San Francisco, in the town of Colma, Maly's West inked a lease for 2.3k sf of retail in-line space at the 280 Metro Mall community center, located at the northeast corner of Junipero Serra Blvd and Colma Blvd. 280 Metro is owned by Kimco Realty Corporation. Maly's, which was represented in the deal by Terranomics' Walsh, is scheduled for occupancy in spring 2009. The company has been a successful salon products distributor for over 40 years and provides products and services to over 30,000 salons in California, Arizona, Nevada, Utah, Oregon, and Washington.
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