Real Estate

Scuttlebutt – Backside of Broadway Plaza to Close in 2014

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Back in March of last year I noted the Broadway Plaza demolition possibilities in Walnut Creek to make way for larger stores with possible mixed development i.e. apartments and it looks like plans are moving full steam ahead. Word on the street is that the backside of Broadway Plaza where the smaller shops are located such as See’s Candies and Boudin Bakery will be closing sometime in 2014 so construction can begin.

Apparently no leases are being offered past December and judging by the number of empty storefronts it’s making more sense now. There was already one open spot, and now AZM Jewelers is gone, as is As Seen on TV. Flares Bridal has closed their 2nd addition but still retains another presence a few stores down.

In addition I’m also hearing that Macerich, the owner of Broadway Plaza is actively working with retail stores to place them elsewhere in Broadway Plaza. So you may see a few of these stores moving nearby eventually.

2015 is right around the corner though so new stores will eventually open back up, possibly where the parking lot is currently located. Keep in mind this is only scuttlebutt, nothing has been confirmed yet.

Preview of 1500 N. California Blvd. Downtown Walnut Creek Development

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The apartment and retail complex at 1500 N. California Blvd. and Bonanza St. in downtown Walnut Creek is expected to be finished in 2015 and I had a chance to check out some renderings and learn more about the development. The Environmental Impact Report (EIR) was published in March and can be accessed here.

There will be 18,000 square feet of retail space on the ground floor and 141 apartment rentals (not condos) on the upper floors. One interesting aspect of the complex is the addition of a public park on the Locust St. side right across from Hubcaps Diner. Although it’s not exactly huge at under 2,000 square feet, anyone is free to use it, not just people living there which should be nice. It will include a seating area, water features and bamboo. The architecture will include brick, stone, steel, and glass.

Plans are underway to bring in restaurants and a cafe to the Bonanza side of the development with service businesses on the N. California side. The corner of Locust and Bonanza will be a great spot for whoever ends up there. Which cafe would you most like to see open up in this new complex? (Please not another Starbucks, there are so many within walking distance already).

Current view down Bonanza Street:
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Check out more renderings after the jump… Continue reading →

Merrill Gardens Assisted Living Apartment Complex Opening in Lafayette Spring 2014

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Back in January I noted that a new apartment complex for seniors called Lafayette Senior Housing was being built on Mt. Diablo Blvd. in Lafayette. What I didn’t realize is that the other apartment complex being built less than a block away will also offer apartments to seniors.

From the Merrill Gardens website:

The apartment-style community will offer all of the amenities of a home without the work. Imagine a life without household chores, yard work or home maintenance. Invite guests to a meal, special event or social outing. With an on-site Active Living Director, scheduled transportation and Anytime Dining program – there will be opportunities to make new friends or entertain old ones right outside your front door when the community opens Spring 2014.

You may have noticed the massive yellow construction crane driving down Mt. Diablo Blvd. to get on the highway.

It’s huge:
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Inge’s Footwear Getting Smaller in Downtown Walnut Creek

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Stores tend to expand or go out of business over time in Walnut Creek but Inge’s Footwear in downtown Walnut Creek is actually contracting to about half its size (to the left) and a new 2625 sf retail space will open up on the right side. According to a leasing page which you can check out here, it includes on site parking in the rear. I always thought this space was huge for Inge’s so this definitely makes sense for everyone involved I imagine.

Word on the street is that a salon will be opening up in the other spot.

Update on Walnut Creek N. Main / Mt. Diablo Corner Project

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UPDATE: According to the developer’s comments below there will be a Mt. Diablo view from the rooftop dining area!

Last February I posted a preview of the N. Main / Mt. Diablo corner lot project diagonally across from Neiman Marcus and now there are new renderings of what the proposed project will look like. According to Brian Hirahara from B.H. Development who is developing the property, the plan is for one retail tenant in the corner taking up two stories and a restaurant on the Mt. Diablo side taking up two stories plus a roof deck.

I look forward to finding out which retailer and restaurant open up here. The developer was also responsible for the project across the street anchored by Tiffany and brought the upscale restaurants Sasa and Va de Vi to Walnut Creek so I imagine similarly upscale tenants will open up here as well. What kind of restaurant would you most like to see here? What retailer would work well?

Check out the retractable windows on the 2nd floor:
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The current location has an older rendering displayed:
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Max Studio Closes in Broadway Plaza

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The designer women’s clothing store Max Studio closed earlier this month in downtown Walnut Creek in Broadway Plaza. Back in January I noted that Arden B. would be closing as well so I wonder whether there is beginning to be an impact as retailers wait and see whether the Broadway Plaza long term plan will be approved by the city which would increase the retail space significantly but also demolish much of what is there currently. On February 19th the Broadway Plaza owners Macerich will present a refined development proposal so it will be interesting to see what they offer up.

Downtown Walnut Creek Building Demolished – La Soie Bridal Salon to Open

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Back last February I noted the impending demolition of the dilapidated building at the corner of N. Broadway and Cypress in downtown Walnut Creek to be replaced with a new building to house a bridal salon and office space on the second floor and as you can see the building is now gone.

La Soie Bridal Salon, with locations in southern California and Sacramento will eventually open at this new Walnut Creek location. A couple of weeks ago I noted the opening of Flares Bridal in Broadway Plaza so there will be plenty of choices for brides-to-be. Take a look at the La Soie Bridal website to see how nice it looks.

 

Pier 1 Imports Moving to Old Golfsmith Location in Walnut Creek

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Back last February I noted that the tennis and golf shop Golfsmith was moving to Pleasant Hill and now this huge building on Mt. Diablo in Walnut Creek will be home to Pier 1 Imports who are moving down from a block away also on Mt. Diablo Blvd. As you drive around town you may notice people standing around with huge 20-40% off signs in order to get rid of inventory from the other store.

This is a smart move by Pier 1 as I don’t think I ever actually went to their current location. Despite being a stone’s throw away from downtown it seemed really isolated. The new location is huge and should be a lot more visible to downtown shoppers. Any fans of Pier 1? I rarely shop there but when I think of Pier 1 the first word that comes to mind is: wicker.

Progress on Almond Station Homes in Walnut Creek

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Back in May I noted that the “Almond Station” homes were coming to downtown Walnut Creek and as you can see progress is coming along nicely. I don’t see any signs though which may mean the houses have already been purchased. Location-wise I would say if you commute via BART this would be a great place to live as it’s only a 5-10 minute walk and also a short walk to downtown Walnut Creek as well.

 

Lease The Watch Shoppe for $3,000/month

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Back last September I noted the closing of the Watch Shoppe on N. Main St. in downtown Walnut Creek and recently I noticed a sign in the window stating that it’s available for lease for $3,000 per month on a month-to-month lease. Since lease pricing is not general publicized I thought this was interesting to see how much prime Walnut Creek storefronts rent for. Presumably due to the month-to-month condition this is a big discount from what a long term tenant would pay.

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