BURLINGAME, CA – September 4, 2014 – Terranomics Retail Services, a dominant retail services provider in Northern California, announces the following transactions:
Target Opening Country’s first Three New Express Stores in Bay Area; Two in San Francisco, One in Berkeley
Target Corporation has signed three leases for its new TargetExpress store concept in the cities of San Francisco (2) and Berkeley (1). The big box retailer, which typically operates in stores ranging from 80,000 to 140,000 square feet, will open as TargetExpress in an approximately 20,000 square foot store at 225 Bush Street at Sansome Street—next to the Montgomery BART station—in San Francisco’s financial district; an approximately 17,000 square foot store located at 1830 Ocean Avenue in southwest San Francisco; and an approximately 12,355 square foot store at 2187 Shattuck Avenue at Allston Way in Berkeley. The 225 Bush and 2187 Shattuck stores are anticipated to open in the spring of 2015. The 1830 Ocean store is still in the early planning stages, and the specific features of the store and its opening date are still yet to be determined. Notably, the test store for the TargetExpress concept recently opened in Minneapolis in July, the city where Target is headquartered. Matt Kircher with Terranomics Retail Services represented Target in all three Bay Area transactions.
Westgate Center Adding Many New Stores, J Crew, Gap Factory Among Them
The recently renovated Westgate Center (Mall) in west San Jose has signed on many new popular retailers for new store locations, including J Crew, Gap Factory Store (outlet), Carter’s and OshKosh B’gosh among the marquee names. Gap Factory Store, an outlet concept, will open in 10,910 square feet and J Crew will open in 5,750 square feet. Popular children’s brands Carter’s and OshKosh will be located in a joint 9,137 square foot space. Westgate Center is owned by Federal Realty Investment Trust. James Chung, Rhonda Diaz Caldewey and Sam Tallman with Terranomics Retail Services represented Federal Realty in the transactions.
South San Jose’s New Village Oaks Celebrates Signing Party City, GNC and Yogurtland
South San Jose’s brand new Village Oaks shopping center has officially signed on three new tenants, Party City, GNC and Yogurtland. Party City will open in an 11,000 square foot end cap space, while the smaller Yogurtland and GNC will respectively open in 1,400 square foot and 1,000 square foot inline stores. The center, currently being developed, is owned by Hunter Storm Properties. James Chung and Todd Oliver with Terranomics Retail Services represented the landlord in the transactions. Mr. Chung, with Mike Costa of Terranomics, represented Party City with Chung also soley representing Yogurtland. Katie Singer also of Terranomics represented GNC in its transaction.
Children’s brands Carter’s, Osh Kosh Opening New Joint Store at The Block in Fremont
Children’s brands Carter’s and OshKosh B’Gosh will be opening a new ±6,850 square foot joint store at The Block at Pacific Commons in Fremont. This will be among the first combined stores the tenant is opening in the Bay Area. Carter’s will be relocating its store from the neighboring Pacific Commons center, a store that notably performed very well at this Fremont location. The Block features major retailers Target, Dick’s Sporting Goods (opening October 28th) and Century Theaters and when combined with Pacific Commons comprises Northern California’s larger power center at over 1 million square feet. Matt Kircher and Annie Jabuka represented The Block’s owner, Catellus Development Corp.
AutoZone Revving Up Locations with Purchase on San Carlos St, San Jose
AutoZone, one of the largest retailers of aftermarket autoparts and accessories, has recently completed the purchase of a 12,000 square foot property for a new auto parts store at West San Carlos Plaza in San Jose for $2.35 million ($195.83 per square foot). The property is located at 1717-1721 West San Carlos Street and was formerly tenanted by San Carlos Video and Payless Shoe Source. The seller was Juanita Brelle Revocable Trust. Jon Stansbury with Terranomics Retail Services represented AutoZone in the acquisition.
Mary’s Pizza Shack Joining New Deer Creek Village in Petaluma
Mary’s Pizza Shack has signed a long-term deal for 4,500 square feet of space at the Deer Creek Village shopping center in Petaluma. Mary’s, which serves pizza, pasta and more and operates several restaurants predominantly throughout the North Bay Area, is anticipated to open its newest Petaluma pizzeria by this fall. Deer Creek is a brand new mixed-use center located at McDowell Boulevard and Lynch Creek Way (with Highway 101 frontage) and owned by Merlone Geier Partners. John Schaefer with Terranomics Retail Services represented Mary’s in the transaction.
The Habit Burger Grill Adding New North Bay Location at Novato Fair
The Habit Burger Grill has signed a new lease to further expand its presence in Northern California, as the popular burger chain leased 2,853 square feet at the Novato Fair Shopping Center in the city of Novato. The Habit is slated to open its new North Bay restaurant in early 2015. John Schaefer and Annie Jabuka with Terranomics Retail Services represented The Habit. Founded in Santa Barbara in 1969, The Habit operates locations in California, Arizona and Utah.
Starbucks Continues to Pour it on in Northern California
Starbucks has signed leases for three new full service coffee houses and one drive-thru kiosk located throughout Northern California. For new cafés, Starbucks leased 2,768 square feet on Antelope Road in Red Bluff at the former KFC site; 1,587 square feet at a mixed-use building at 562 Market Street in San Francisco; 1,743 square feet at the Saratoga Square shopping center in west San Jose; and also ground leased 20,378 square feet at Main Street @ California Highway 160 in Oakley where it will construct a new drive-thru kiosk. Starbucks was represented separately in each of these transactions by Terranomics Retail Services: James Teare (Red Bluff), Rhonda Diaz Caldewey (San Francisco), James Chung (San Jose), and Jessica Birmingham (Oakley) In addition, Mr. Wheatley and Mr. Teare also represented the landlord, Valley Star Partners, in the Red Bluff transaction.
Five Guys Joining @METROCENTER Marketplace in Foster City
Five Guys Burgers and Fries will be opening a new restaurant location in Foster City at the @METROCENTER Marketplace anchord by Safeway and CVS. Located on East Hillsdale Boulevard, @METROCENTER Marketplace is part of a larger Class A, five building, 820,000 square foot master-planned center that also includes three large office buildings. Todd Oliver and Mike Costa with Terranomics Retail Services represented the Equity Office on the transaction
The Melt Joining New Saich Way Station in Cupertino
The Melt has signed a long term deal for a 1,750 square foot restaurant at the newly constructed Saich Way Station shopping center in Cupertino. Headquartered in San Francisco, The Melt is a popular fast casual grilled cheese restaurant concept that has 16 California locations, including one at Stanford Shopping Center. Located along Stevens Creek Boulevard between Target and Whole Foods, Saich Station is owned by Borelli Investments. Jon Stansbury and James Chung with Terranomics Retail Services represented The Melt.
Pizza Five85 to Open First NorCal Location in Oakland
Pizza Five85 has leased 1,270 square feet of inline space at the Hegenberger Gateway shopping center in Oakland that will represent its first Northern Califorina location. Currently, Pizza Five85 has three locations all in Southern California. The center is located at Hegenberger Road and Interstate 880 and is owned by West Valley Hegenberger Properties. Drew Greenspan with Terranomics Retail Services represented Pive Five85 in the transaction.
MOD Pizza Adding Two Bay Area Locations, San Jose and Pinole
MOD Pizza has inked deals for two new pizzeria locations in west San Jose and Pinole. MOD leased 3,047 square feet for a new location at the recently renovated Westgate West shopping center and 2,248 square feet at the Pinole Valley Shopping Center. James Chung with Terranomics Retail Services represented MOD in both transactions. Jennifer Hibbitts and John Schaefer also of Terranomics represented landlord Stockbridge Capital Group in the Pinole Valley deal.
Panda Express Adds Silicon Valley Location at El Monte Shopping Center
Panda Express will be adding a new location in Silicon Valley, as the popular fast casual Chinese restaurant chain has leased 2,189 square feet of space at the El Monte Center in Mountain View. The property is located at El Monte Avenue and El Camino Real and is owned by Stratton/Wilson Investments, LLC. Panda has more than 1,700 locations throughout the U.S., Puerto Rico, Guam, Canada, and Mexico. Michael Seigel and Sharon Carmichael with Terranomics Retail Services represented Panda Express in the transaction.
Hand & Stone Massage and Facial Spa Opens Another East Bay Location, in Alameda
Hand & Stone Massage and Facial Spa has signed a lease for 2,836 square feet of space at the Bridgeside Shopping Center in Alameda owned by Cornerstone Real Estate Advisors. The center is located at 2671 Blanding Avenue. Launched in 2005, Hand & Stone is a 160-plus unit massage and facial spa franchise that now has locations in 21 states and Canada. Michael Seigel and Sharon Carmichael with Terranomics Retail Services represented the tenant in the transaction.
Menchie’s Fro Yo Adding Another SAC Valley Store, at Folsom Gateway Mall
Menchie’s Frozen Yogurt has penned a deal for 1,223 square feet of space at Folsom Gateway Mall, with an opening scheduled for the end of the year. Located in the city of Folsom on the corner of Iron Point Road and Broadstone Parkway, the enclosed center is owned by Braddock & Logan. In 2010, Menchie’s was awarded as the #1 fastest growing food franchise in the US and holds today the prestigious status of the largest self-serve frozen yogurt franchise in the world. Blair Wheatley and James Teare, SCLS with Terranomics Retail Services represented Menchie’s in the transaction.
Jersey Mike’s Subs Bringing East Coast Sammy Style to Westgate West
Jersey Mike’s Subs has leased 1,345 square feet of inline space at the Westgate West shopping center in west San Jose. Owned by Grosvenor America, the Trader Joes-anchored center is located at Prospect Road and Lawrence Expressway, across from Westgate Center (Mall) and El Paseo de Saratoga. James Chung with Terranomics Retail Services represented the landlord in the transaction. Mike Costa and Katie Singer also of Terranomics represented Jersey Mike’s, which is also currently looking into opening more stores in the area.
Primary Contacts (names are listed alphabetically):
Todd Oliver, (650) 401-2129, firstname.lastname@example.org
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