Lee & Associates presents the 2014 Year End Retail Review. An oversight of the commercial real estate market in Livermore, Pleasanton, Dublin, San Ramon, and Danville areas of the San Francisco Bay Area.
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SF East Bay Year End Retail Review 2014
1. Livermore
Total Inventory: 1,980,395
Total Available: 112,564
Total Absorption 2014: +77,816
Vacancy Rate 4Q14 & % Change From 4Q13: 5.68% (-3.93%)
Pleasanton
Total Inventory: 2,112,427
Total Available: 123,026
Total Absorption 2014: +22,053
Vacancy Rate 4Q14 & % Change From 4Q13: 5.82% (-1.05%)
Dublin
Total Inventory: 3,223,626*
Total Available: 135,779
Total Absorption 2014: +134,257
Vacancy Rate 4Q14 & % Change From 4Q13: 4.21% (-4.63%)
San Ramon
Total Inventory: 1,650,478
Total Available: 82,577
Total Absorption 2014: +20,512
Vacancy Rate 4Q14 & % Change From 4Q13: 5.00% (-1.25%)
Danville
Total Inventory: 1,039,449
Total Available: 25,579
Total Absorption 2014: +14,337
Vacancy Rate 4Q14 & % Change From 4Q13: 2.46% (-1.25%)
Lee & Associates maintains an up-to-date database of all available properties and sold/leased properties.
For more local commercial real estate news, insight, and gossip visit me at www.thestorefront.wordpress.com
MARKET SNAPSHOT
RECENT TRANSACTIONS
Center
Dublin Place
Crow Canyon
Enea Plaza
Size (SF)
60,000
15,000
28,000
Date
Q2
Q2
Q1
City
Dublin
San Ramon
Dublin
Tenant
Hobby Lobby
Sports Authority
Guns, Fishing, & More
DOWNTOWN VACANCY COMPARISON
DOWNTOWN VACANCY COMPARISON
YEAR END RETAIL REVIEW
Lee & Associates Tri-Valley Retail Market Report
4
thQuarter2014
HISTORIC VACANCY RATES
Inventory: Total square footage of retail space in the market not including malls and
downtown storefronts
Availability: Square footage that is marketed for lease which is available within 90 days. This
also includes sublease space.
Absorption: The change in availability from the previous year.
Vacancy: The percent of available space based on the total inventory.
Triple Net Expenses (NNN): A lease agreement where the Tenant is responsible for their
proportionate share of taxes, insurance, maintenance and building repairs. Triple Net
Expenses are in addition to base rent.
*Total inventory has changed due to new construction
Livermore
Total Inventory 400,357
Total Available From 17,403
Vacancy Rate December 2013 4.35%
Pleasanton
Total Inventory 402,646
Total Available From 12,599
Vacancy Rate December 2013 3.13%
Danville
Total Inventory 431,485*
Total Available From 33,525
Vacancy Rate December 2013 7.77%
KEY TERMS & DEFINITIONS
The long awaited market rebound has finally come to fruition. It has been a slow
moving train but vacancy rates all across the Tri-Valley have stabilized at five-year
lows. In addition to vacancy rates dropping dramatically, there has been a boom in
new construction. Unfortunately, the additional inventory and quick absorption of
this new space does not translate into the numbers. When analyzing the numbers,
they are actually better than extremely positive results illustrated. Large deals such
as Hobby Lobby and the copious amount of shop space being absorbed at Fallon
Gateway are just a few examples of emerging new businesses helping to elevate 2014
into an exceptional year in retail leasing.
The story of 2014, and a trend that will continue in 2015, is residential development.
Land and redevelopment acquisitions for residential purposes dominated the market.
From Taylor Morrison’s 210 detached and attached housing projects in downtown
Livermore to Trumark Homes, 184-acre, 805 single family homes in Dublin; residential
deals are larger and more aggressive than we have seen in years.
-Jessica Mauser, Associate & Retail Specialist
Editor’s note in regards to Downtown Danville vacancy: The jump of about four
percent may seem alarming, but the numbers are skewed due to Danville Hotel
redevelopment.
SUMMARY
Address
1600 Vasco Road
Bernal Plaza
2491 First Street
City
Livermore
Pleasanton
Livermore
Date
Q4
Q3
Q4
Size (SF)
50,000
35,000
7,150
Price
$5m ($100 PSF)
$11.6m ($330 PSF)
$2.7m ($375 PSF)
1.00%
3.00%
5.00%
7.00%
9.00%
11.00%
13.00%
Q4 2010 Q4 2011 Q4 2012 Q4 2013 Q4 2014
Livermore Pleasanton Danville
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
Q4 2010 Q4 2011 Q4 2012 Q4 2013 Q4 2014
Livermore Pleasanton Dublin San Ramon Danville
2. Exclusive Lee Listings
2
Lee & Associates - Your Retail Connection
Since 1979, our seasoned, motivated shareholders and professionals have been offering comprehensive quality service nationally and locally in a pro-active manner.
We develop customized solutions for all of your real estates needs through our market-to-market knowledge in all property types. Our unique business model and
extensive experience has helped us become one of the largest commercial real estate providers in the United States.
Services Offered:
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Site Search Landlord Representation Tenant Representation
Retail - Office - Industrial
FOR LEASE
Livermore Valley Plaza
Downtown Livermore
FOR LEASE
Oak Hills Shopping Center
5400 Sunol Boulevard
RETAIL OFFICE INDUSTRIAL
Jessica Mauser
Retail Specialist
* The property information/detail contained herein has been provided by the seller/lessor or has been obtained from other sources believed to be reliable,
and Lee & Associates - East Bay, Inc. has not independently verified such information’s accuracy. Lee & Associates - East Bay, Inc. makes no representations,
guarantees, or express or implied warranties of any kind regarding the accuracy or completeness of the information provided herein nor the condition of the
property and expressly disclaims all such warranties, including but not limited to the implied warranty of suitability and fitness for a particular purpose. Buyer/
Lessee should perform its own due diligence regarding the accuracy of the information upon which buyer/lessee relies when entering into any transaction
with seller/lessor herein. Further, the information provided herein, including any sale/lease terms, are being provided subject to errors, omissions, changes of
price or conditions, prior sale or lease, and withdrawal without notice.
* CoStar sourced for portion of market data
5890 Stoneridge Drive, Suite 210
Pleasanton, CA 94588
(925) 460-6200
(925) 460-6210
www.lee-associates.com
The Lee Retail Team is experienced in both Tenant and
Landlord representation and has been active in the Easy Bay
commercial real estate market for a combined 17 years. As
retail specialists, they have worked with a number or local
restaurants, retailers, and landlords in sales and leasing of
shopping centers and storefronts.
For the most up to date market information, follow Jessica
on her blog www.TheStrorefront.wordpress.com.
FOR LEASE
Amador Center
6044 Dougherty Road, Dublin
Recently Completed Tenant Rep Assignments
LEASED!
Downtown Petaluma
Sauced BBQ & Spirits
LEASED!
Stoneridge Drive, Pleasanton
Lil’ Genius Kids
John Blatter
Retail Specialist
LEASED!
Main Street, Pleasanton
McKay’s Tap House
Tim Willett
Retail Specialist
Lee & Associates Tri-Valley Retail Market Report
YEAR END RETAIL REVIEW
LEASED
LEASED
4
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