With Sunrise Mountain Sports in Livermore closing their doors soon the rumor mill is swirling with possible new occupants. Latest thrown into the ring, a brewery. The building located at
The saga continues… City Council did not extend the 9-month contract with Lennar Multi-Family Communities, ending the year long relationship. As some might recall, this time last year a number of developers were asked to present plans for the former Lucky Supermarket site, now a half dirt parking lot between First and Railroad Avenue. Lennar was selected as the developer who would then work with City staff, Council, and the community to come up with a final plan. Unfortunately, Lennar didn’t get that opportunity due to the November elections. With fresh Council members, the project is back to square one.
Development is always tricky, you are asking a community of people who already have homes in that area to decide on more people, more traffic, more impact on services; rarely does a community gather to encourage more housing and more people when their needs are met. While I do believe the project should be carefully planned to reflect the actual needs of the community, the wants and priorities of those closest to the situation may not actually understand the real needs of the greater market and what is actually marketable.
For example, we know Livermore is a sought-after community, filling apartments and condos is no problem. However, we have no idea if a 130-room hotel will ever sell out or if a 75,000 square retail center will find an anchor store. In fact, Livermore traditionally has not supported big-box retail outside of the “freeway zone” and vacancy rates of the local hotels are not low enough for hoteliers to be attracted to building a new facility, downtown or otherwise. The market will dictate what makes economic sense, someone just needs to be listening.
Yes, this is 2016 not 2005. Doesn’t this story sound eerily familiar?
Ikea has purchased a 25 acre parcel encompassed by Hacienda Drive to the east, Martinelli Drive to the North and I-580 to the South. This is the site Ikea sold to Blake Hunt Ventures back in 2006.
The 2006 sale was sudden, Ikea siting the Emeryville and East Palo Alto locations sufficiently serviced their East Bay clients and the need for Dublin had diminished. At that point, the Ikea site was just just 14 acres with plans for a 230,000 square foot store. Blake Hunt Ventures, a prominent retail and residential developer, owned the neighboring parcel slated for residential development. The purchase of the Ikea site nearly doubled the size of BHV original development plans.
Fast forward to 2015.
Blake Hunt Ventures was delivered a blow mid-2015 when the City of Dublin shot down the mixed residential and retail development plan. It become increasingly clear that residential was not going to future for the site. In walks Ikea. After a short escrow period Ikea closes the deal in early March 2016.
The new plan? A 339,000 square foot store, equipped with a restaurant and children’s play area on approximately 21 acres. The remainder 6 acres could accommodate up to 52,000 square feet of retail or ancillary development. If approved by the City of Dublin the targeted opening date is mid-2018.
Check out the San Francisco Business Time’s segment on ‘People on the Move in San Francisco‘. I am representing for Lee & Associates – East Bay, Inc.!
If you have been wondering what was going to take the place of the old Chrysler, Jeep, Dodge dealership in Dublin, I have some news for you. The signs went up last night (Tuesday, Aug. 11th) and Tesla Motors is moving in!
Located at 6701 Amador Plaza Road, Tesla will operate a retail showroom, sales, and service center. The deal has been quietly in the works for close to a year. This is the first sales and service store for Telsa in the Tri-Valley. Other sales and service centers are located in Fremont (HQ), Palo Alto, Burlingame, and Sunnyvale.
An opening date has not been officially announced.
What do people love more than bagels in the morning? Starbucks! Right now Levy’s Bagels is under renovations, this 2,000 SF space is becoming San Ramon’s next Starbucks. With this said there will now be two Starbucks in the Diablo shopping center, the old Levy’s Bagels and the in store Safeway Starbucks. Now the painful long lines for Starbucks in Safeway will be cut in half and moved just around the corner. Mornings just became a little less dreadful!
In addition, there is also a 1,039 SF space available across from Safeway. This space was recently occupied by Parcel Plus, but since March has been a vacant space in a prime location.
Address: 2505 San Ramon Valley Blvd. San Ramon, CA 94583
A few years back in 2012 worldwide corporation Starbucks bought the La Boulange Bakery chain. Now a few years later, on Tuesday, Starbucks announced they will be shutting down all 23 La Boulange locations. It has not been disclosed what will become of these locations, but these soon to be vacancies will become opportunities for prime Bay Area retail space.
La Boulange Bakery has one near by location in downtown Danville and another in downtown Walnut Creek, both areas are great locations for any business due to their excessive foot traffic and broad range of customers.
Walnut Creek (left) located at 1348 Broadway Plaza, Walnut Creek, CA 94596.
Danville (right) located at Iron Horse Plaza, 405 Railroad Ave, Danville, CA 94526.
For those driving past the the now empty Chrysler, Jeep, Dodge dealership at the end of Amador Plaza Road in Dublin, don’t fret, it will not be vacant for long.
Stoneridge Dodge Jeep is in the process of moving to a brand new facility near the outlets in Livermore. Easily seen from I-580 on the Pleasanton side of Fallon Road, there is a beautiful new grey building taking shape. The moving trucks seen earlier in the week at the old Dublin dealership were parked over the weekend at the new facility.
In addition to Stoneridge Dodge Jeep relocating to Fallon Road, CarMax is planning a new location on a neighboring site on the Fallon Road corridor. No word on when CarMax plans to begin construction.
Corporately Fresh & Easy is in the process of subleasing their buildings; near by locations include Danville and Pleasanton.
As many of you may know along with the Fresh & Easy abandoning Danville, Walgreens is going with it. With this said, rumors have been flying that a Walmart Neighborhood Market will be coming to occupy this space. From credible sources I have come to the discovery this rumor is NOT true, it is untold what will be the new face of this space but keep checking in to learn more about this story and possible candidates.
This space is located at:
Green Valley Shopping Center, 460 Diablo Road, Danville, CA 94526
The newest addition to the downtown line-up has officially opened! La PanotiQ is located the former Nestle Toll-house Cafe at 2470 First Street. The french style cafe has slowly expanded their collection of family operated restaurants, the original location being in Cambell. Other locations include San Francisco (Marina District and Noe Valley), Mountain View, and Berkeley to soon open.
To read more about La PanotiQ CLICK HERE
Salon space is often sought-after due to the complexity and expense of the initial construction. Being that we live in an area that imposes impact fees on businesses whose consumption is above and beyond a “standard” business, there are water credits often associated with former salon spaces. These credits make opening businesses such as restaurants, bakeries, quick service food, massage, some medical practices, gyms, and even preschools much more affordable. The water impact fee can be in excess of twenty-five dollars per square foot which equates to about forty thousand dollars on a small take-out style (1,500 square foot) restaurant or average size salon. This cost is absorbed by the operator prior to opening the doors for business and even before construction can commence.
For this reason I often field calls from salon operators looking to expand within existing salon space. And with that, I introduce 2205 San Ramon Valley Boulevard, San Ramon.
Located on the busy San Ramon Valley Boulevard corridor this former salon offers exceptional visibility. Tucked between San Ramon and Danville, the center is hot spot for the surrounding neighborhoods offering a variety of services with ample parking and easy access. This would be an excellent fit for dental office, hair salon, nail salon, tanning salon, med-spa, or boutique gym.
Size: 3,000 square feet
Price: $2.15 per square foot, plus NNN expenses of $.50 per square foot
Comments: Located directly on San Ramon Valley Boulevard with excellent line of sight. Bright space with extensive glass. Two restrooms, over a dozen salon stations, and two treatment rooms. Affluent area between San Ramon and Danville.
Contact Jessica Mauser or John Blatter for more information 925.460.6200 firstname.lastname@example.org email@example.com
I am often asked why there seem to be no “small” buildings in the Tri-Valley market and why more of these “small” buildings do not come to market for sale. The most requested size range for the small business owner is 5,000 to 10,000 square feet, which constitutes a small building; especially when comparing to the half million square foot buildings commonly found in Bishop Ranch.
Due to living in such a suburban market, the majority of the shopping centers and office projects are planned and built as one large parcel that may contain multiple buildings. As opposed to an urban and older markets which had the tendency to be developed by individual owners to accommodate their needs. The larger the parcel, the more square footage, the more rents collected, the bigger the price tag. Thus, the inventory of free-standing buildings within a smaller size range more suited for small business owners are far and few in suburban markets (like the Tri-Valley) and more plentiful in urban markets.
Lately we have seen an influx of owner/user office and retail buildings come to market. These range in price from $1 million to $7 million. One of my favorite buildings being a 9,000 square foot two-story building in San Ramon once occupied by a bank but would make for a great medical building. Pleasanton has a beautiful multi-tenant retail building in downtown, a trophy for any real estate investor. Surprisingly, Danville has a couple options as well! Dublin remains very tight, with virtually no inventory of small retail and office buildings readily available for purchase.
Due to confidentiality reasons I am not able to share specific details on these properties.
If you are looking for a building, as a business owner or investor, retail, office, medical, or mixed-use, please feel free to contact me for a comprehensive market survey.
The long awaited market rebound has finally come to fruition. It has been a slow moving train but vacancy rates all across the Tri-Valley have stabilized at five-year lows. In addition to vacancy rates dropping dramatically, there has been a boom in new construction. Unfortunately, the additional inventory and quick absorption of this new space does not translate into the numbers. When analyzing the numbers, they are actually better than extremely positive results illustrated. Large deals such as Hobby Lobby and the copious amount of shop space being absorbed at Fallon Gateway are just a few examples of emerging new businesses helping to elevate 2014 into an exceptional year in retail leasing.
The story of 2014, and a trend that will continue in 2015, is residential development. Land and redevelopment acquisitions for residential purposes dominated the market. From Taylor Morrison’s 210 detached and attached housing projects in downtown Livermore to Trumark Homes, 184-acre, 805 single family homes in Dublin; residential deals are larger and more aggressive than we have seen in years.
-Jessica Mauser, Associate & Retail Specialist
Editor’s note in regards to Downtown Danville vacancy: The jump of about four percent may seem alarming, but the numbers are skewed due to Danville Hotel redevelopment.
Jack’s Brewing Company has officially closed their doors at 2410 San Ramon Valley Road. The Courtyard Center is located near the Crow Canyon exit on the west side of San Ramon, this closure marks the second turnover in five years. You may remember this was the longtime home of Bighorn Grill prior to Jack’s. The space is 4,500 square feet, plus outside patio. Side note, Tri-Valley Bank has also vacated this property recently.
Max’s has been vacant at the corner at Crow Canyon and Crow Canyon Place (Magnolia Square Shopping Center) for months and it is rumored the landlord is very close to finalizing a deal.
The other longtime vacancy is at Gale Ranch on Bollinger Canyon, the former Maui Burger and former Fat Cactus. This space is 3,500 square feet.
Kilohana Grill which was located in the Market Place on Bollinger has also closed. You might remember this spot located in the Orchard Supply Store parking lot, adjacent from Firehouse. New signs in the window indicate it has been leased to Shish Mediterranean Cuisine. The advertisements offers an “alternative to fast food”.
As reported in my last post, Pastime Plaza will be bringing a new dining destination in addition to Downtown’s first Starbuck’s, but that is just the start of the shifting restaurant scene.
Rumor has it a new pizza restaurant will be opening on W. Angela Street. The exact location and business name have not been released but the whisperings are that it is an established business growing into the East Bay, think high-end pizza.
There is also a new breakfast/lunch spot opening in the former Zorn’s space on Hopyard Road and Valley Avenue. The new eatery is a long time South Bay favorite, Bill’s Cafe.
Round Table Pizza, Vitality Bowl’s, and Jersey Mike’s have also joined the line-up at Bernal Plaza, just across from the Safeway anchored Pleasanton Gateway Center.
With all the new there is bound to be a few closures and ownership changes. A number of restaurants are quietly being offered for sale at the moment. Due to confidentiality reasons, please contact me directly if you are looking for restaurant space firstname.lastname@example.org or 925.737.4168