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
“Rethink Your Relationship With Tacos.
LIVE. FOR. MORE.”
Coming soon to 4526 Las Positas Road
C.R.E.A.M (Cookies Rule Everything Around Me) is back and will be reopening this August!
For details check out the latest from the San Ramon Patch
The ice cream shop has been under a bit of transition lately that looks like it is resulting in shutters! Located at 2375 Railroad Avenue, they recently changed their name from CREAM to Livermore Ice Cream Shop in the last few months and now has closed with a note posted on the door as of May 8, 2017!
Please contact me at (925) 737-4168 for more information/updates!
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.
The San Francisco Premium Outlets have become shoppers favorite spot. Now, 3 years since they opened, these outlets are going to become even more popular! The SF Premium outlets are expanding their variety of brands and have plans to incorporate 50 more stores into their 185,000 square-foot multi-million dollar expansion. Thirty- five of these new brands are expected to open up on August 13. Get your walking shoes on and your credit cards ready because some new 35 stores include:
- A/X Armani Exchange
- CH Carolina Herrera
- Ermenegildo Zegna
- Jimmy Choo
- Rag & Bone New York
- Scotch & Soda
- Ted Baker London
- Tory Burch
- UGG Australia
The SF premium Outlets are located at 2774 Livermore Outlets D. in Livermore.
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.
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
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.
Exciting times if you work in the retail side of commercial real estate. We are seeing deals in all shapes and sizes, something we thought may never happen after the massacre of ’08… errr… I mean economic downturn. New development, old development, partially developed, the train is moving full steam ahead.
Vacancy is extremely low and prices have most certainly jumped by over 20% in most places and even closer to 30% in select pockets. Keep a finger on the mouse, more new posts to come, including some of the hot lease and sale opportunities currently on the market.
P.S. – I hope everyone has had a chance to discover Gotta Eatta Pita. They have two locations, Danville and Pleasant Hill with a location coming soon in Pleasanton near Hopyard and Owens Drive. I am in no way affiliated with the company they are just my favorite new quick serve restaurant. I promise you will not be disappointed!
Even at the bottom of the market, we saw very few bank owned or foreclosure properties come to market in our area. The hardest hit was the office market with a couple troubled office buildings trading hands between ’10-’12. The majority of troubled assets were able to workout or restructure loans rather than go into foreclosure.
The commercial market generally runs about two years behind the residential market. This means we are just now seeing the market get really hot with multiple offers in both sale and lease transactions along with extremely low inventory. Despite this, we have seen a sudden surge of bank owned and foreclosure properties, including a large religious facility in Livermore.
Built in 2009, the facility is 23,000 square feet situated on a lot just under two acres. The location is ideal on North Livermore Avenue with more than adequate parking. This is a turn-key facility complete with fixtures, furniture, and equipment ready for a new congregation. The price has been dropped by a million dollars, now asking $5.2 million.
In addition to this facility, there is also a smaller (about half the size) religious facility for lease in the east side of town. It is not often we see these types of facilities come to market and to have two at one time is even more of a rarity.
Included in this surge of distressed properties we have seen multiple newer industrial condos and few free-standing buildings go to foreclosure auction in the area.
If you are looking for distressed assets, foreclosures, or religions facilities please contact me! firstname.lastname@example.org
For those practicing in the medical and dental fields, you know how challenging finding space can be. Staying within the confines of zoning districts, water/sewer fees, extensive and expensive construction costs of building the space… it can be a mess. Very rarely does a second generation building medical or dental space come available for lease, let alone for sale. Today I would like to highlight one of those coveted buildings located near downtown Livermore.
Our subject building is not the most aesthetically pleasing in the world but it does offer great amenities including location, parking, and renovations. At 2,200 square feet it is well appointed for one or two practitioners. Having been remodeled back in 2006 it has two separate suites with newer roof, updated restrooms, raised floors, and newer HVAC. The location on East Avenue near N. Livermore Avenue and 4th Street makes for great visibility.
2412 East Avenue
FOR SALE @ $1,092,500 ($496 per square foot)
Size: 2,202 square feet
Comments: Great free-standing building, hard to find medical/dental buildout. Price per foot is steep but the savings in dental infrastructure counter balances the cost. Potential income producer, occupy one suite and lease out the other.
Are you one of the hundreds of people that crave ice cream sandwiches from Cream every day? Tired of driving to Berkeley or Walnut Creek to get your fix? You’re in luck! Cream has officially signed a lease in downtown Livermore!
Cream, which stands as “Cookies Rule Everything Around Me” is Bay Area concept that has caught fire. They specialize in all natural gourmet ice cream sandwiches and best yet, they are affordable at around $3 each.
The new location will be next to the 13-screen movie theater and Bankhead Performing Arts Theatre at 2375 Railroad Avenue in the Livermore Valley Plaza. The location is ideal, just across from the free city parking garage and on the way to all the major attractions. Cream is anticipating a February opening date.
Nestle Toll House Cafe closed at the end of October leaving behind 1,800 square feet of prime real estate on First Street. That space is now for lease. Contact Jessica for more information email@example.com or 925.737.4168.
Until recently Livermore Valley Plaza lacked excitement and had many vacant spaces. Over the past 18 months we have seen the center become near completely full and the epicenter of downtown shifted to this area. Establishments such as Sauced BBQ & Spirits, Patxi’s Pizza, and The Last Word (coming soon) are among the new line-up.
An adorable little space on 3rd Street near South L Street has just come to market for lease. The space has a great glass line and retail frontage but would make for a nice professional office, personal service use (salon), or medical office. Because it is located on 3rd Street the zoning allows for many uses that cannot be accommodated on First Street.
The space is 1,775 square feet and the asking rent is $1.50 per square foot. Very reasonable rent, especially given the attractive retail frontage!
Call Jessica for more information on this property and other availabilities in the downtown area: firstname.lastname@example.org or 925.737.4168