Terranomics Significant Retail Transactions

BJ’s Brewhouse Joining San Jose MarketCenter, Taking Former Chevy’s Space
May 8, 2013 – Todd Oliver and Mike Costa with Terranomics Retail Services teamed up to broker a new lease between BJ’s Restaurant and Brewhouse and LaSalle Investment Management at the San Jose MarketCenter. BJ’s signed a long-term lease to build a 7,500-square-foot restaurant space and will be demolishing the Chevy’s building and constructing a brand new building on the site. BJ’s, which operates nearby locations in Cupertino and the Oakridge Mall in South San Jose, is scheduled to open its newest San Jose restaurant in early 2014. Oliver and Costa both represented BJ’s in the transaction, with Oliver also representing LaSalle.

San Jose MarketCenter is a 360,000-square-foot Target-anchored shopping center located at Coleman and Taylor avenues. BJ’s Restaurants, Inc. currently owns and operates over 115 casual dining restaurants nationwide.

Walgreens Joining Alameda Station, Expected Opening Q1 2014
May 8, 2013 – Todd Oliver and Patrick McGaughey with Terranomics Retail Services represented landlord Foley Street Investments, LLC in the long-term ground lease of ±1.18 acres at Alameda Station to Walgreen’s, which will be building a 16,776-square-foot store featuring a drive-thru on the site. The ± 24,000-square-foot Alameda Station is located in a prime downtown location at the corner of Park Street and Tilden Way. Walgreens is expected to open its new Alameda store in the first quarter of 2014.

Retro Fitness Opening New Gym in South San Jose’s Main Street Santa Teresa Center
May 8, 2013 – Sharon Carmichael and James Chung with Terranomics Retail Services have teamed up to represent landlord Keenan Land Company in leasing 12,582 square feet of space to Retro Fitness at Main Street Santa Teresa shopping center in South San Jose.  Main Street Santa Teresa is a Lucky-anchored neighborhood center positioned across from Oakridge Westfield Mall.

Lowe’s Sells 12.13 Acres of Land in Manteca, New Offices Now Planned on Site
May 8, 2013 – James Teare, SCLS and Blair Wheatley with Terranomics Retail Services represented seller Lowe’s Inc. in the sale of ±12.13 acres of land at the NEC Highway 120 and South Airport Highway in Manteca for $2,275,000 ($4.31 per square foot).  Lowe’s originally intended to construct a new home improvement store on the site, but has since decided not to develop at this location. The vacant land was acquired by ANF Development, a developer based in Manteca, which plans for new office development on the site.

Men’s Wearhouse, Krispy Kreme,  and Which Wich Coming to Pacific Commons & The Block, NorCal’s Largest Power Center
May 8, 2013 – Multiple brokers with Terranomics Retail Services have represented three separate tenants that will soon be opening new store locations at the Pacific Commons & The Block retail power center in Fremont. Men’s Wearhouse, Krispy Kreme, and Which Which Superior Sandwiches all signed new leases at the high-profile center, which is owned by Catellus Development. Men’s Wearhouse, represented by Todd Oliver, leased 5,705 square feet. Krispy Kreme, represented by Andrew Nash and Brian Nash, leased 1,384 square feet of space. And Which Wich Superior Sandwiches, represented by Michael Seigel, agreed to a lease of 1,370 square feet.

Located at the southwest corner of I-880 and Auto Mall Parkway in Fremont, Pacific Commons and The Block are Northern California’s largest Power Center at over ±1 million square feet combined.

Michael Chiarello’s New Restaurant, Coqueta, Opens at San Francisco’s Pier 5
May 8, 2013 – Rhonda Diaz Caldewey. partner with Terranomics Retail Services represented owner San Francisco Waterfront Partners I, LLC in leasing ±2,619 square feet of restaurant space to new tenant Coqueta at San Francisco’s Pier 5. Coqueta, a concept of Michael Chiarello’s—emmy-winning Food Network personality, award-winning chef at acclaimed Bottega restaurant in Napa Valley, cookbook author and retail entrepreneur—opened last month after a two year search for the right space.

Coqueta features Chiarello’s interpretation of Spanish cuisine with regional dishes from Madrid, Catalonia and the Basque Country. The restaurant includes an outdoor lounge featuring a gin and tonic specialty bar, a tapas bar and dining room inside with great views of the Bay.

Hard Water Makes Big Splash at San Francisco’s Pier 3
May 8, 2013 – Rhonda Diaz Caldewey and Jessica Birmingham with Terranomics Retail Services represented owner San Francisco Waterfront Partners I, LLC in the lease of ±1,281 square feet of space at San Francisco’s Pier 3 to Hard Water, a New Orlean’s-themed whiskey bar from Charles Phan which officially opened to the public in March (the lease was signed over a year ago). A restaurant  and bourbon bar, Hard Water features vintage and heritage whiskey, plus a small plates bar menu highlighted by southern delicacies.

Phan collaborated with architect and partner Olle Lundberg in designing the space, which features a horse-shoe shaped bar,  shelves of whiskey, and views of both the bay and the Embarcadero.

Petaluma’s New East Washington Place Adds National Tenant, Kirkland’s Store and North Bay’s Red Boy Pizza
May 8, 2013 – Matt Kircher, Katie Singer and John Schaefer with Terranomics Retail Services represented property owner Regency Centers in two new leases with Kirkland’s Stores and Red Boy Pizza at the new East Washington Place shopping center. Kirkland’s Stores, a home décor store with over 320 locations nationally, signed a long-term deal for 6,750 square feet, and Red Boy Pizza, who has multiple locations mainly throughout the North Bay, leased 2,000 square feet.

East Washington Place will be a brand new Target-anchored shopping center totaling ±345,960 square feet of retail and commercial space at East Washington Street and Highway 101. A grand opening is slated for this summer.

Starbucks Takes Former Carl’s Jr Space on West Calaveras in Milpitas
May 8, 2013 – James Chung with Terranomics Retail Services represented tenant Starbucks in the recent lease of a 2,751-square-foot freestanding building at 120 West Calaveras Boulevard in Milpitas. The property is well positioned at the highly visible corner of Abel Street and features a drive-thru window. Starbucks took advantage of the opportunity to secure the property, most formerly a Carl’s Jr., which was brought to the market for the first time in fall 2011. 120 West Calaveras is owned by private investor Lily Tung.

Terranomics provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties. For further verification and/or questions, please contact the brokers listed below with the particular news announcement.

Primary Contacts (names are listed alphabetically):

Andrew Nash, (650) 931-2206, andrew.nash@terranomics.com

James Chung, (408) 436-3630, jchung@terranomics.com

James Teare, SCLS, (916) 329-1548, jteare@terranomics.com

Matt Kircher, (650) 347-3700, mkircher@terranomics.com

Michael Seigel, (408) 931-2227, mseigel@terranomics.com

Rhonda Diaz-Caldewey, (415) 568-3402, rdiaz@terranomics.com

Sharon Carmichael, (408) 200-8811, scarmichael@terranomics.com

Todd Oliver, (650) 401-2129, toliver@terranomics.com

For market statistics or data, please contact:
Garrick Brown, Director of Research, (916) 329-1558, gbrown@terranomics.com

About Terranomics
Terranomics is the dominant retail brokerage firm in Northern California. Terranomics currently has over 30 retail brokers leasing over 20 million square feet of retail property in Northern California and exclusively represents over 100 national and regional tenants. Terranomics has transacted over $3.3 billion in retail investment sales over the last five years. For 40 years, Terranomics has been actively involved in almost every development site and tenant roll-out in the region. Terranomics is the Northern California affiliate of Chain Links Retail Advisors. www.terranomics.com

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