Terranomics Significant Retail Transactions – May 25, 2012
Old Navy Opening New Store at Monte Vista Crossings in Turlock this Fall
May 25, 2012 –Drew Greenspan and Staci Eisler Cole with Terranomics Retail Services represented tenant Old Navy, LLC in the new lease of 15,000 square feet of inline space at the Monte Vista Crossings shopping center in Turlock. Old Navy, which penned a long-term lease, is scheduled to open its new Central Valley store this fall. Positioned at Monte Vista Avenue and Highway 99, Monte Vista Crossings is a power center featuring several major retailers including Home Depot, Target, Lowe’s, Kohl’s and Safeway, and is one of the largest open-air centers on the West Coast. Monte Vista Crossings is owned by Hall Equities Group.
Guitar Center Amplifying Tenancy at Hillsdale Shopping Center; Opening this Summer
May 25, 2012 – Patrick McGaughey and James Chung with Terranomics Retail Services represented tenant Guitar Center in a brand new lease at the Hillsdale Shopping Center in San Mateo. Guitar Center, the world’s largest musical instrument retailer, signed a long-term deal for a new 14,526-square-foot end cap store within the high profile 1.2 million-square-foot shopping center, which is owned by Bohannon Development Company. Guitar Center is scheduled to join such stores such as Nordstrom, Macy's and Sears, plus 120 specialty stores and restaurants in the shopping center later this summer.
LA Boxing Stepping into Ring in West San Jose this Fall; Gym’s First South Bay Location
May 25, 2012 –Matt Taylor with Terranomics Retail Services represented tenant LA Boxing in the lease of 4,231 square feet of end cap space at the West Park Plaza in West San Jose. The property is located at the intersection of Winchester Boulevard and Payne Avenue. LA Boxing penned a long-term lease agreement and is scheduled to open this fall. This will be the gym’s first location in the South Bay Area. The center includes tenants Rite-Aid, Starbucks, O’Reilly Auto Parts and formerly housed Safeway. LA Boxing has over 60 locations in 23 states nationwide and, per its web site, has become the world’s largest boxing, kickboxing and mixed martial arts gym.
Dollar Tree Stores Branching Out to North Point Shopping Center in Dixon
May 25, 2012 –Bob Dong and Jared Dong with Terranomics Retail Services represented tenant Dollar Tree Stores in the company’s new lease of 9,000 square feet of end cap space at the North Point Shopping Center in Dixon, a city positioned about 15 miles west of Sacramento. The property is located at 1700 North First Street and is owned by Hosseinyoun Family Trust. Dollar Tree will serve as the primary tenant in the 20,280-square-foot multi-tenant center. Built in 2007, North Point is located on one of Dixon’s main thoroughfares and is situated midway between the I-80 freeway and the city’s downtown.
Five Guys Burgers & Fries Chooses Madrone Village for Seventh Silicon Valley Restaurant
May 25, 2012 – James Chung with Terranomics Retail Services along with Shahram Moussavi represented property owner Madrone Village Shopping Center, LLC in the lease of 2,781 square feet of end cap space at the Madrone Village shopping center in Morgan Hill. Madrone Village is located at Cochrane Road and Madrone Village, just off Highway 101, and features other tenants such as Chipotle, Peet’s Coffee & Tea, Anytime Fitness and Erik’s Deli Café. Five Guys is taking the bulk of the former D’Vine Jazz and Wine space in the project. The expanding Five Guys signed a 10-year lease agreement and is scheduled to open its new South County restaurant this fall. The site would represent the franchise’s seventh location the Silicon Valley—which includes one planned location in North San Jose.
Anytime Fitness Plans for Late Summer Opening at Novato Fair Shopping Center
May 25, 2012 –John Schaefer and Jennifer Hibbitts with Terranomics Retail Services represented landlord Kimco Realty Corporation in a 4,200-square-foot lease with Anytime Fitness at the Novato Fair Shopping Center. Anytime Fitness signed a long-term lease agreement for its new inline space at the ±133,745-square-foot center located at Diablo Boulevard and Redwood Boulevard. They plan to open in late summer. Novato Fair’s anchors include Safeway, Rite-Aid, Dollar Tree plus there is a myriad of eateries and shops. The center is now 98% leased.
Gap, Inc.’s Women’s Brand, Athleta, to Sport New Location at Town & Country Village in Palo Alto
May 25, 2012 –Drew Greenspan and Staci Eisler Cole with Terranomics Retail Services represented tenant Athleta, LLC, in the lease of 3,798 square feet of inline space at the Town & Country Village shopping center in Palo Alto. Headquartered in Petaluma, Athleta is the women’s athletic apparel brand of Gap, Inc. that has been outfitting women athletes since 1998. The store is scheduled to open in July. Town & Country Village is located at the corner of El Camino Real and Embarcadero Road, directly across from Stanford University and is owned by CEP Town & Country Investors, LLC. This location is one of eleven that Athleta plans to open across the country before end of summer.
Barbeques Galore Grabs More Grill Space in North Bay; Renews/Expands at Toys R Us Center
May 25, 2012 –Mark Koenig and Jennifer Hibbitts with Terranomics Retail Services have represented landlord Toys Center, LLC in the seven-year lease renewal/expansion of existing tenant Barbeques Galore at the Toys R Us shopping center in San Rafael. Barbeques Galore increased its occupancy another 2,520 square feet bringing its total size at the center to 7,020 square feet. Co-tenants of the center include Toys R Us and the recently opened TJ Maxx.
Hot Pot City Cooks Up New Long-Term Deal at Florin Town Centre in Sacramento; Opening Soon
May 25, 2012 –James Teare, SCLS and Blair Wheatley with Terranomics Retail Services have represented property owner Prudential Real Estate Investors in a new lease of 5,310 square feet of end cap space at the Florin Town Centre in southern Sacramento to tenant Hot Pot City. Located at the NWC of Florin Road and Stockton Boulevard, one block from Highwy 99, the 488,455-square-foot Florin Town Centre is anchored by Wal-Mart Supercenter plus major retailers PetSmart and 24 Hour Fitness. Hot Pot City inked a long-term lease agreement for its new Sacramento location that is scheduled to open around May.
JP Morgan Chase Opening New Branch at Gateway to Historic Downtown Saratoga
May 25, 2012 –James Gaglione with Terranomics Retail Services along with Kevin Sweatt of Cassidy Turley represented landlord Atoga, LLC in the lease of 5,248 square feet of end cap space to new tenant JPMorgan Chase Bank in Saratoga. The property is located in a Starbucks-anchored strip center at 14410 Big Basin Way at the intersection of Saratoga-Sunnyvale Road. JPMorgan’s new branch will be well positioned at the gateway to Saratoga’s historic downtown.
Kids & Teens World Set to Play in Danville, Relocating from San Ramon
May 25, 2012 –Trish Gonsalves with Terranomics Retail Services along with Gary Riele of Straface & Riele Commercial Real Estate represented landlord Rose Garden Associates, Danville, LLC in a new lease of 4,297 square feet at The Rose Garden shopping center in Danville. The new tenant is Kids & Teens World, a provider of furniture and play sets in the Bay Area. Anchored by Navlet’s Garden Centers, The Rose Garden is located at the intersection of Sycamore Valley Road and Camino Ramon, just off Interstate 680. Kids & Teens is relocating from San Ramon.