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will be anchored by a 55,000 SF Safeway store. There should continue to be a sready supply of new retail sp~c~ ia th~ ~ as the ~ Dublin R~nch project in East Dublin progresses through its protracted entitlement process and as the Dublin Downtown Core and West Dublin BART specific plan areas are redeveloped. With the new product coming on line and the new product going through entitlement processes, the retail market will have the appearance of continuing to be vib3ant. With this new supply, however, we eXlXS:t to see a maturation of the market, and coupled with signs of a slowing economy and signs of slowing retail sales, we expect to see a moderate slowdown in demand from the fi-ensied pace of ~.e last few years. We will also see some retailers go tl'u-ough financial difficulties as we are already seeing with Montgomery Wards, Staples and Regal Cinemas. These market uvnds will not spell doom and gloom for the retail market but they will keep the market in relative balance for the foreseeable future. The retail product base near your particular site has had a mixed history. The main non-freeway oriented centers are the Rme Pavilion, Gateway Square, The Crossroads, and Hacienda Plaza. These com~le~es are doing relatively well now, but hi~toticaily they have struggled. The Rose Pavilion on RoSeWood Drive started as a neighborhood commercial center with a grocery story. This cbncept did not work, and the center bas since transformed itself into a furniture and home furnishings complex with migellaneous retail. With prime corner locations at Hopvard R~ad and Stonetidge Drive, the Gateway Square and Crossroads projects have the best non-freeway locations in Pleasanmn. Despite such locations, these centers have histuricaily struggled as well, and they have even gone through bankauptcies and changes of ownership. Both centers are doing well now, but the main reason for this is that most retailers in these centers leased space several yeats ago in a weak economy with very Iow rents. Hacienda Plaza at Gibraltar and Stoneridge Drive has had the same experience as the other centers. Akh~ugh the delicatessen, Sweet & Savory, has been very successful and is expanding, the rest of the center has seen regular turnover with one of the spaces now being leased to a non traditional retail use. In my opinion; Pleasanton has a good mix of existing retail. It has three separate freeway oriented centers anchored by Home Depot, WaIMats, and the auto dealers and furniture stores on Rosewood Drive. It obviously ba~ the Stoneridge Mall with its million plus square feet of space. The North Plemamon area in particular has a fair amount of service commercial with the 100,000 SF JC Penny Pla~, the 88000 SF Oarew~y Square, the 125,000 SF Crossroads, portions of the 430,000 SF B. me Pavilion center, Hacienda Plaza. and the 51,000 SF at the Pleasant Village Center. Pleasanton has neighborhood commercial centers anchored by Albertsons, Gene's, Safeway, Nob Hill, Raleys, and the Trader Joes store in the Pleasant Village Center. Pleasanton also has an inviting and revitalized downtown retail core that many cities envy and are trying to imitate.