RES 01063 - Laserfiche WebLink

March 16, 2001 CITY OF PLS~,' -"' PI. ANN Mr. Scott Ora~r 5880 West Las Pmitas Boulevard, Suite 51 PL~_,~ntou, CA 94588 5075 HOI'YARD ROAD Dear Scorn You have requested that I provide an overview of the retail market in Pleasanton and Dui)lin, and a market analysis nf your site on Hol~/ard Road, ,~ fer as my hac~tound, I have been involved in retail brokerage for approximately 15 years, For the past three years, I have been a retail specialist with Colliers lntamational in the Pleesanton office, Prior to joining Colliers Insemational, I wa~ with CB Commercial for 12 years where I earned the top retail salesperson for the Northern California Region and became the first woman Vice President in the Walnut Creek office, I have an extensive ha~ground in the region, and my largest current assignment is the leasing of the 52 acre, 500,000 square foot Hacienda Crossings in Dublin for Opus West, I would like to divide this report into two main sections. The first will provide a general overview of the retail market and a historical review of retail in the area, The second section will Be a retail market analysis of your specific site. Market The greater Fast Bay retail market has been one of balance. (~.'er the past few years the demand for retail space has been about equal to the supply, The 2000 year end retail vacancy rates f~r east Alameda County are apptoximateb/6.2%, 6.9% and 8.2% for community, neighborhood, and regional centers re.~:~-~:tively. The continuation of sttong population growth and rising incomes is expected to continue this balance for the local retail market. The development of new space has been very active recently in the Tri Valley area; There have been major power centers added in Dublin and Livermore, and there is nearly 300,000 SF of new retail projects coming on line over the next year or two. These include the 134,000 SF retail complex in East Dublin called the Shops at Waterford, another 47,000 SF retail center in East Dublin that will Be anchored by a 30,000 SF restaurant and conference center, a new 65,000 SF retail complex in West Dublin, and a new 82.000 SF Home Expo at Dublin Center in West Dublin. The Shops at Waterford is an 18 acre project slated to start construction in March, and it will have a 54,000 SF grocery store as the primary anchor, a 22,000 SF secondary anchor, three pads, one to include a financial institution, one for a 6.500 square foot restaurant and the other shop tenants, in additional to another 40,000 SF of retail and service space. The 65,000 SF complex in West Dublin is being developed by Safeway and