1. Year End 2009
Cornish & Carey Commercial Stephen Rusher
East County News & Views 925.974.0115
srusher@ccarey.com
A Snapshot of East Contra Costa County
Commercial Real Estate
Retail Market
December 2009 Shop Space Total Anchor Space
Total Space
Retail Sub Market Shop Space Vacancy Vacancy Available (>15,000 sf)
Pittsburg 1,814,417 464,150 13.0% 10.4% 4
Antioch 3,176,429 1,052,355 17.4% 9.4% 4
Brentwood 2,260,387 1,023,152 23.5% 12.18% 2
Oakley/Discovery Bay 359,546 154,267 10.2% 4.37% 0
Market Totals 7,610,779 4,916,825 18.5% 10.17% 10
Gottschalks Building Sold SOMERSVILLE TOWNE CENTER
San Luis Obispo based NKT Commercial purchased the
+/-91,000 SF former Gottschalks building at the
Somersville Towne Center for ±$1.5 Million ($16 PSF).
In addition to a ±75,000 SF former Mervyns, this space
represents one of two major anchor spaces available at
the project.
Fresh & Easy Neighborhood Markets
Expansion Plans (www.freshandeasy.com)
Fresh & Easy purchased land, in both Oakley and
Brentwood, as the retailer continues its California
Expansion Plans. The ±74,144 SF Oakley site is on the
NWC corner of Laurel Road and Empire Avenue and
was purchased for ±$1.95 Million. There are tentative
plans for additional retail at this intersection including
another grocery anchored center and a drug store. The LONE TREE & BLUEROCK
±63,000 SF Brentwood site is at the NEC of Balfour Road and
Fairview Avenue, located directly across from the Safeway
anchored Balfour Village. The site was purchased for ±$1.65
Million.
Bluerock and Lone Tree
Target is in early planning stages to add an additional store on
Lone Tree Way near Bluerock Drive in Antioch. This would be
the Minnesota based retailer’s third store within the trade area.
The approximate 12 acre site is adjacent to the ±102,762 SF
Bluerock Center and the ±45,433 SF In-Shape.
Reynolds and Brown announced the addition of ±50,000 SF of
neighborhood retail anchored by Fresh & Easy and a national drug
store at the NWC corner of Bluerock Drive and Lone Tree Way.
This project would complement their Bluerock Center at the SEC
of the same intersection in which they have ±31, 000 SF of
existing retail.
1333 N. CALIFORNIA BOULEVARD, SUITE 343, WALNUT CREEK, CA 94596 (925) 974-0100 www.ccarey.com

2. Office/Flex Market
The East Contra Costa County office/flex market has remained relatively stagnant with most deals being completed intra-
market. The hardest hit sub-market was the Sunset Business Park, in which two buildings went back to their lender. While
lease rates trended downward in the first half of 2009, they remained stable as the year progressed. There are a significant
number of office spaces available in the 1,000 – 2,500 SF range. In addition, due to softened retail lease rates, traditional
office/flex users are considering retail spaces.
Existing Product Brentwood/Antioch Office Flex Markets
December 2009 ± Square Footage
+/- Vacancy Rate +/- Asking Lease Rates
Office Market (Total Projects)
Harvest Business Park 409,006 (14) 28.0%a $1.00-$1.50 PSF (Gross)
Balfour Road Medical 210,905 (4) 20.6% $1.25-$1.50 PSF (Gross)
Downtown Brentwood 413,004 (25) 15.7% $1.00-$1.50 PSF (Gross)
Sunset Business Park 160,029 (14) 44.6% $0.75-$1.25 PSF (Gross)
Lone Tree Corridor 652,825 (27) 37.4% $1.00-$1.75 PSF (Gross)
CVS/Caremark Update
As CVS/Caremark continues to work through the
disposition of excess real estate resulting from its
acquisition of Longs Pharmacy, it has placed two
assets in Contra Costa County for sale. In
addition to Longs former corporate headquarters
in Walnut Creek, the +/-51,000 SF building in the
Prewitt Business Park located at the SEC of Lone
Tree Way and Deer Valley Road in Antioch is for
sale and is currently being marketed as a vacant
asset.
Industrial Market
The East Contra Costa County Industrial market
has +/-8,127,324 SF of product, primarily located
in Pittsburg and North Antioch, including General
Industrial, Warehouse, and R&D. As of the 4th
quarter of 2009, the overall vacancy rate was
15.9%, which reflected a negative Net Absorption
of approximately 9,384 SF from the previous
quarter. Average asking rates are $0.65 NNN
and range between $0.37 PSF/NNN for
Warehouse up to $0.85 PSF/NNN for R&D space.
In the 4th quarter of 2009, the most significant industrial lease transaction was the ±39,000 SF that Pacific Cushion leased at
1221 California Avenue in Pittsburg and there were no significant sale transactions. The largest availability in the market is the
±187,626 SF at The Empire Commerce Center. Please call Tyler Epting 925.974.0238 or Jeff Fritch 925.974.0118 for questions
on the East County Industrial Market.
We have the experience and resources to help with all of your commercial real estate needs in East Costa County.
For further information on the East County commercial market, contact:
Stephen Rusher
925.974.0115
srusher@ccarey.com
1333 N. CALIFORNIA BOULEVARD, SUITE 343, WALNUT CREEK, CA 94596 (925) 974-0100 www.ccarey.com