Daiso Converts to Long-Term Lease at Alameda South Shore Center

The Pop-up Store is Moving to Larger Quarters After a Successful Test Run

Alameda, Calif. (September 26, 2012) —The largest Japanese low-price retail company, Daiso, has signed a five-year lease at Alameda South Shore Center for approximately 4,100 square feet, announced Jamestown L.P., a leading national real estate acquisition and management firm headquartered in Atlanta.

Daiso, which has 11 stores in Northern California, opened a 1,400-square-foot pop-up storefront at South Shore Center last December. “Daiso stores are known for creating a buzz, with an interesting variety of surprisingly good-quality merchandise, priced at $1.50 or less,” noted Senior Vice President Julie Taylor of Cornish & Carey Commercial Newmark Knight Frank, the exclusive leasing agent for South Shore Center, together with Stephen Rusher.

“This location was so successful that the company decided to move into a larger space, with the potential for additional expansion,” she added, noting that the new store is expected to open for business in October or early November. This is one of three recently opened Daiso stores in the Bay Area.

“We are very pleased Daiso has been successful at our center, and that Alameda residents have welcomed them so enthusiastically,” said Michael Phillips, COO of Jamestown. “Our pop-up storefront program, which provides temporary space for short-term tenants, has proven to be popular with retailers like Daiso, who want to ‘test the waters’ before committing to a long-term lease, as well as enterprises offering seasonal merchandise,” he explained.

The pop-up program is part of Jamestown’s philosophy of creating opportunities for tenants with distinctive and time-sensitive requirements by providing flexible lease opportunities. “This innovative marketing approach not only accommodates retailers with varying and seasonal needs, it benefits all tenants by attracting additional customers to the center,” Taylor pointed out.

For example, she noted that Spirit Halloween, a temporary costume shop, significantly increased foot traffic during the Halloween season, and Pedal Beach Rentals LLC, which opened a pop-up beach supply and rental store in June, brought new customers to the center during the summer months.

Founded in 1983 with headquarters in Atlanta, Ga. and Cologne, Germany and offices in New York City, San Francisco, Ca. and Washington, D.C., Jamestown is a leader in acquisitions and value added management. Over 29 years, Jamestown has generated approximately $8 billion in strategic investments. The company is focused across the risk spectrum with core, core-plus and opportunistic funds in two primary markets: 24-hour cities and Sunbelt territories with strong demographic growth. For more information, visit www.jamestownproperties.com.

Alameda South Shore Center
Alameda South Shore Center is an established, 594,000-square-foot open-air shopping center located in the East Bay community of Alameda, Calif. The only major shopping center on the 23-square-mile island, the recently renovated property is home to a variety of national retailers and restaurants, including Kohl’s, Safeway, Trader Joe’s, TJ Maxx, Starbucks, Ross, Old Navy, PetCo, Payless Shoe Source, Bed Bath & Beyond, Sushi House, Applebee’s, Lens Crafters and The Children’s Place. The center has maintained its prominence as a thriving retail destination for more than 50 years. For more information, visit www.alamedasouthshorecenter.com.

West Coast Commercial Real Estate News