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Retail Market Report
MARKET SNAPSHOT
Grocery Anchored Inventory: 722,071
Grocery Anchored Availability: 127,032
Grocery Anchored Vacancy Rate: 17.59%
Power/Life Style Inventory: 585,497
Power/Life Style Availability: 37,711
Power/Life Style Vacancy Rate: 6.44%
Free Standing Retail Inventory: 279,483
Free Standing Retail Availability: 155,617
Free Standing Retail Vacancy Rate: 55.68%
Retail Strip Center Inventory: 778,537
Retail Strip Center Availability: 144,189
Retail Strip Center Vacancy Rate: 18.52%
Total Retail Inventory: 2,365,588
Dublin Begins to Fill Large Vacancies Total Retail Availability:
Total Retail Absorption:
464,549
+ 64,068
Dublin Retail Vacancy Rate: 19.64%
Big Box Vacancy a Thing of the Past? Vacancy Rate by Product Type
The 3rd quarter of 2010 showed improvement for big box vacancy in Dublin. The space
formerly occupied by Anderson T.V. will soon be occupied by Grocery Outlet. Joanne’s
will be relocating to the vacant space next to the former Circuit City building. Sprouts
Farmers Market will be taking half of the Circuit City building. The Meryvn’s building
is rumored to have a lease out with a sporting goods store that plans to take half of
the 80,000± square feet. Leasing of small space remained flat this quarter. The Shops
at Waterford having the most significant activity, leasing all but the former Stacey’s
space.
Other activity this quarter included Half Price Books taking 10,800± square feet in the
Dublin Retail Center (anchored by Ross and OSH) and Bj’s Restaurant & Brew house is
looking at two potential development sites: Hacienda Crossings and a vacant parking
lot between Toys “R” Us and the Meryvn’s building. Despite the positive absorption
there is still a lot of empty space available in Dublin. The large space left behind by
Expo Design center remains empty despite the rumors of interest by Wal-Mart. The old
KEY TERMS & DEFINITIONS
Dublin Honda site still sits partially built and continues to look for a buyer. The Crown Inventory: Total square footage of retail space in the market
Chevy site is for sale and has a rumored 11 offers submitted to date, all residential
Availability: Square footage that is marketed for lease which is available within 90
developers. days. This also includes sublease space.
At this time we are encouraged by the improvements the market is making. Look Absorption: The change in availability from the previous quarter.
for the continuing of the upward trend during the fourth quarter, albeit, I do believe
we will lose some momentum heading into the holidays. The finishing of West Dublin Vacancy: The percent of available space based on the total inventory.
BART in the first half of 2011 should encourage development; until that date I do not
Grocery Anchored: Shopping centers characterized by a grocery anchor such as
foresee any new construction.
Safeway, Trader Joe’s, or Nob Hill. These centers are often more sought after and
fetch a higher lease rate.
Power/Life Style Centers: A Power Center offers a variety of big box retailers, such
Recent Transactions as Hacienda Crossings. Life Style centers cater to neighboring residential such as
Tenant Location Square Feet The Shops at Waterford, Tralee, and Avalon.
Sprouts Farmers Market 7600 Amador Valley Blvd. 34,000
Grocery Outlet 7590 Amador Valley Blvd. 15,000 Free Standing: Stand-alone buildings commonly characterized by only having a
single tenant and that are larger than 10,000± square feet in size.
Half Price Books Dublin Retail Center 10,800
Fidelity Investments The Shops at Waterford 4,500 Retail Strip Center: Smaller shopping centers that do not have a grocery anchor.
Triple Net Expenses (NNN): A lease agreement where the Tenant is responsible for
Lee & Associates maintains an up-to-date database of all available their proportionate share of taxes, insurance, maintenance and building repairs.
properties and sold/leased properties. Triple Net Expenses are in addition to base rent.
For more local commercial real estate news, insight, and gossip visit my blog! www.thestorefront.wordpress.com
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QUARTER IN REVIEW
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Dublin Retail Vacancy and Rental Rates
Vacancy Rate vs. Average Asking Rate Tri-Valley Vacancy Report
Exclusive Lee Listings
FOR SALE FOR LEASE FOR LEASE
7099 Amador Plaza Rd. 1,222± Square Feet 1,400± Square Feet
Developement Opportunity! Dublin Corners Dublin Corners
Lee & Associates - Your Commercial Real Estate 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:
Market Value Analysis Building Optimization Investment Sales
Site Search Landlord Representationn Tenant Representation
RETAIL OFFICE INDUSTRIAL
Jessica is experienced in both Tenant and Landlord
representation and has been active in the Easy Bay
commercial real estate market since 2006. Prior to joining
Lee & Associates in 2009, Jessica worked for Aegis Realty
Partners in Oakland. As a retail specialist, she has worked
with a number or local restaurants, retailers, and landlords in
5890 Stoneridge Drive, Suite 210
sales and leasing of shopping centers and storefronts.
Pleasanton, CA 94588
(925) 460-2600 Jessica Stewart For the most up to date market information follow Jessica on
www.lee-associates.com Retail Specialist
her blog www.TheStrorefront.wordpress.com.
* 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, includ-
ing any sale/lease terms, are being provided subject to errors, omissions, changes of price or conditions, prior sale or lease, and withdrawal
without notice. 2
* CoStar sourced for portion of market data