Terranomics Significant Retail Transactions – April 13, 2012
Target Buys 10 Acres for New 140,000 SF Anchor Store at New East Washington Place Shopping Center, Petaluma
April 13, 2012 –Matt Kircher with Terranomics Retail Services represented buyer Target Corporation in its acquisition of 10 acres of land from Regency Centers at the site of the East Washington Place shopping center in Petaluma. Target is constructing a new ±140,000-square-foot store—all which will be indoor space—and will serve as the new center’s primary anchor. Entirely owned by Regency Centers, East Washington Place is strategically positioned at East Washington Street and Highway 101, nearby the city’s future SMART (Sonoma Marin Area Rail Transit) station and current Amtrak bus station. Plans for the new shopping center call for roughly 378,000 square feet of commercial and office space on almost 34 acres on the former Kenilworth Junior High School site adjacent to Highway 101. Construction began earlier this year on the new East Washington Place shopping center, which is slated for an opening in summer 2013. According to Regency Centers, the new center will create a total of approximately 380 construction jobs and 720 permanent jobs.
The Fresh Market Opening First West Coast Specialty Grocery Store, Selects Sacramento Valley for National Expansion
April 13, 2012 –Jessica Birmingham and Rhonda Diaz Caldewey with Terranomics Retail Services have represented tenant The Fresh Market, Inc. in the lease of 23,000 square feet of space at the Rocky Ridge Town Center in Roseville, a growing suburb of Sacramento. The center is owned by Sacramento-based Fulcrum Property. This will be The Fresh Market’s very first location on the West Coast. The specialty grocer’s stores are designed to convey the atmosphere of an old world European market, all under one roof, with an array of departments: an old-style butcher shop and fish market, bakery, produce and floral stands, and delicatessen. Founded in 1982, The Fresh Market, Inc. (NASDAQ: TFM) is a specialty grocery retailer focused on providing high-quality products in a unique and inviting atmosphere with a high level of customer service. The company currently operates 112 stores in 21 states, located in the Southeast, Midwest, Mid-Atlantic, and Northeast, with plans for continued expansion throughout the country.
Bed Bath & Beyond Signs Long-Term Extension for Modesto Store
April 13, 2012 – Don Krieger with Terranomics Retail Services, the exclusive tenant representative of Bed Bath & Beyond (BBB) in Northern California, represented them in their lease renewal of 29,926 square feet at the Vintage Commons Center in Modesto. Anchored by Target, the Center is located on Sisk Road just off Highway 99, with great highway visibility. BBB penned a long-term extension for this central valley store. Terranomics exclusively represents Bed Bath & Beyond and buybuyBaby in Northern California.
Five Guys Burgers & Fries Opening Soon at Harden Ranch Plaza; First Salinas Location
April 13, 2012 – James Chung with Terranomics Retail Services in collaboration with Greg Findley of Cassidy Turley represented Five Guys Burgers & Fries in the lease of 3,000 square feet of inline space at the Harden Ranch Plaza in Salinas. Five Guys will be positioned in a new multi-tenant food building in the center which it will share with BJ's Brewhouse, Chipotle and Yogurt Land. Signing a long-term deal, the popular fast casual restaurant is targeted to open its very first Salinas location in late April. The 660,000-square-foot Target-anchored Harden Ranch Plaza is located at North Main Street at San Juan Grade Road and is owned by PGI Management.
Starbucks Docks New Coffeehouse at Port of San Francisco
April 13, 2012 – John Schaefer and Annie Jabuka with Terranomics Retail Services represented tenant Starbucks in its lease 1,548 square feet of end cap space at Pier 1, The Embarcadero in San Francisco. The property is owned by Prologis. Starbucks opened its new coffeehouse at the beginning of 2012.
It’Sugar Rushing into Anchorage Square at Fisherman’s Wharf, San Francisco
April 13, 2012 –Rhonda Diaz Caldewey and Jessica Birmingham with Terranomics Retail Services have represented property owner Anchorage Holdings, LP in a new 1,524-square-foot lease at the Anchorage Square Shopping Center in San Francisco’s renown Fisherman’s Wharf with It’Sugar candy store. The property is very well located on Jefferson Street, between Jones and Leavenworth. It’Sugar has several locations throughout the U.S. and around the world and will join the wide array of highly popular attractions, stores and eateries the Wharf—one of San Francisco’s top tourist destinations— provides.