John Sechser is a well-known fixture on the CRE retail scene, having recently joined TRI.
WALNUT CREEK, CA—Third quarter 2018 marked the lowest downtown Walnut Creek retail vacancy rate in more than a year. Vacancy dropped from 4.6% in the second quarter to 4.5%, according to John Cumbelich & Associates’ third quarter retail report.
The downtown market continues to attract new-to-market users, with retailers such as Blaze Pizza and Madison Reed signing leases in third quarter. Heritage Eats, a Napa Valley-based concept, also opened during the quarter.
As existing vacancy continues to absorb, there are significant new retail developments either underway or ready to break ground in the coming fiscal year, says the report. And with Broadway Plaza’s ongoing construction decreasing due to the third quarter completion of the new Apple Store, additional construction is anticipated as new downtown retail inventory breaks ground.
The Foundry, a 27,545-square-foot European-style food hall, continues to make progress. The Foundry’s proposed site is located on Walnut Creek’s busy Locust Street across the street from Century Theatre. And, Broadway Plaza’s new 75,000-square-foot Lifetime Fitness facility is underway, receiving approval from the Walnut Creek planning commission earlier this year.
Net absorption ended the quarter at 3,450 square feet and vacancy in the historic downtown north of Mt. Diablo Boulevard increased from 10.8% to 11.3%, according to the Cumbelich report. The historic downtown’s share of overall vacancy remained stable in the quarter, carrying over 54% of the overall market from second into third quarter. Vacancy rates there have continued to rise since third quarter 2016, as the center of gravity for retail and dining has shifted to the remodeled Broadway Plaza. With vacancy increasing in the historic downtown, additional retail assets will be repurposed to mixed-use development.
With all of this retail activity buzzing in Walnut Creek, it seems to be the place for veteran retail real estate brokers. John Sechser is certainly that. He is a well-known fixture on the commercial real estate scene, having spent numerous years at Transwestern, Colliers International, Grubb & Ellis and Bishop Hawk.
And now, Sechser has joined the team at TRI Commercial/CORFAC International, according to president Tom Martindale. His expertise includes retail leasing as well as representing retail tenants with site selection requirements, and negotiating leases and investment sales.
Sechser’s new position at TRI is East Bay retail services managing director. He was most recently a senior vice president/director of retail operations with Transwestern in Walnut Creek. Ed Del Beccaro managed that office until joining TRI Commercial a few weeks ago as executive vice president and East Bay regional manager.
“I have known John Sechser for many years as a man of integrity and always a top producer. We are thrilled to have a consummate professional such as John join our East Bay team,” Del Beccaro tells GlobeSt.com. “The retail business in the East Bay is thriving and John is a great addition to TRI Commercial.”
Since 1981, Sechser has worked extensively with retail tenants as well as retail property owners throughout the Bay Area, later concentrating on the East Bay. Recently, his work includes marketing the retail space at several mixed-use projects in Walnut Creek.
The Lyric, located between North California Boulevard and Locust Street on the north end of Bonanza Street, has 18,000 square feet of ground-floor retail with 141 apartment units in three-, four- and five-story buildings.
1380 North California Blvd., the former McDonalds, will have 10,300 square feet of retail with 97 apartments above it; 22 of which will be Airbnb-style short-term rental residences.
1716 North Main St., which will be 42 executive-style apartment homes above 2,700 square feet of retail.
Alamo Drafthouse, Maya Cinema, Fuddruckers, Las Montanas Market, Patio World, Philly Cheesesteak and Denica’s Real Food Kitchen are some of the retail tenants Sechser has exclusively represented. He also has development experience, having worked as a partner in developing Brentwood Junction, a 65,000-square-foot retail center anchored by Best Buy and Walgreens, and Brentwood Station, a 75,000-square-foot retail center, both in Brentwood, CA.
After several years with Bishop Hawk in San Jose beginning in 1981, Sechser transitioned to the Grubb & Ellis Company where he spent 13 years building his retail real estate career. He joined Colliers International in 1999 and was an integral part of building its retail business before joining Transwestern in 2012 to help open its Walnut Creek office.
Written by: Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
View the original article here.
Media contact: Gary Marsh: 415.999.3793; gary@marshmarketing.com
TRI Commercial/CORFAC International Nabs East Bay Transwestern Manager Ed Del Beccaro
Walnut Creek, CA – November 13, 2018 — TRI Commercial/CORFAC International President Tom Martindale, SIOR, announced that his firm has recruited the former East Bay and Silicon Valley Senior Managing Director of Transwestern, Ed Del Beccaro, to TRI Commercial. Effective immediately, Del Beccaro becomes Executive Vice President and East Bay Regional Manager for TRI Commercial and will be based in Walnut Creek.
“TRI Commercial is extremely pleased with the addition of Ed Del Beccaro. Ed is an East Bay icon in our business and our management team believes he is a perfect fit for TRI Commercial’s platform, which is client centric, entrepreneurial, privately held, locally based yet globally connected. The East Bay is a highly strategic market to our business operations and a stronger team there will complement the offices and professionals TRI currently has in San Francisco, the East Bay, Sacramento and Roseville,” said TRI Commercial Chairman of the Board Charles Wall.
Wall and Del Beccaro have had a long-term relationship and while Wall typically is not involved with daily operations at the real estate services firm, he made the initial call to Del Beccaro based on their existing relationship.
Del Beccaro has nearly 40 years of real estate experience in the San Francisco Bay Area, including founding a development company and opening the Colliers Parrish International Walnut Creek and Stockton offices (now Colliers International), where he was instrumental in the growth and development of transaction services and property management services. He took over the East Bay and Silicon Valley management roles for Transwestern in February 2015.
“I view this as a tremendous opportunity to deliver sophisticated, world-class brokerage services and I am particularly excited to help drive a regionally focused platform to its next level. The Greater Bay Area is increasingly one market – including Sacramento, and having the ability to serve clients across the spectrum of property types and tenant requirements is paramount to succeeding in today’s marketplace. After evaluating the East Bay landscape of firms offering commercial real estate brokerage and management services, TRI was a clear choice for me,” Ed Del Beccaro said.
He started his career in 1977 with Grubb & Ellis and also had his own development company from 1983 to 1992. He is a specialist in office and retail leasing and sales, distressed properties, land sales, commercial mixed-use projects, medical office and securing project entitlements. He has completed more than 2 million square feet of tenant representation assignments on behalf of UCSF, UCSF Benioff Children’s Hospital, various local and regional banks, area developers and many other Bay Area clients.
He is currently or has formerly served on more than a dozen local boards, including as Co-Chair of the Bay Area Council Transportation Task Force, Vice Chair of the Economic Alliance for Business, Co-Chair of the Transportation Task Force East Bay Leadership Council, the California Technology Council, California Shakespeare Theater, Chamber Music San Francisco, JFK University, Walnut Creek Library Foundation and the Walnut Creek Chamber of Commerce. Ed Del Beccaro earned a bachelor’s degree in Philosophy from Stanford University.
About TRI Commercial/CORFAC International
Founded in 1977, TRI Commercial/CORFAC International is a leading Northern California commercial real estate brokerage and property management (with over 4 million square feet of commercial property under management) firm specializing in San Francisco, East Bay and the Sacramento Metro property markets. The company has expertise in tenant and landlord representation services and helps clients buy and sell commercial and investment-grade property. The company serves office, retail, and land, multifamily and industrial property sectors, with offices in San Francisco, Walnut Creek, Oakland, Roseville, Sacramento and Rocklin. For more information, visit www.tricommercial.com or call Ed directly at 925.296.3333.
CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail properties, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. For more information on CORFAC call the Chicago headquarters at 224.257.4400 or visit www.corfac.com.
2018 Q3 TRENDS – San Francisco – Office
2018 Q3 TRENDS – Sacramento – Office
2018 Q3 TRENDS – Sacramento – Retail
2018 Q3 TRENDS – Sacramento – Industrial
LONDON HOSTS AND TOASTS CORFAC INTERNATIONAL LIKE ROYALTY
A PERFECT MIX OF BUSINESS AND PLEASURE
Game-changing industry disruptors like co-working; the rise and risks of artificial intelligence; market shifts fueled by the rise of Amazon and last-mile delivery; budget-busting prices for space in major markets–all of these topics and more were on the front-burner at CORFAC’s Fall Conference in London. Panelists from leading UK companies spoke on relevant industry topics such as international investment and development trends, global office occupier markets, understanding the modern workplace and the impact of AI on commercial real estate.
As a fun counterbalance to the robust business sessions, Alistair Subba Row, Charlie Thompson, and their talented team at Farebrother worked tirelessly to create an incredible London experience for attendees and their guests, beginning with stunning accommodations at the historic Waldorf-Astoria. The location was ideally situated for walking around the city, catching The Tube (London underground rail), riding a double-decker bus, or jumping in a classic retro Black Cab.
Aside from a rousing welcome reception, which filled the Farebrother office to capacity and overflowed into the peaceful green garden below, guests enjoyed a guided bike trek through downtown London (where drivers yield to no one!), an evening dine-around-town, tours of some of the City’s great landmarks, a breathtaking three-hour lunch cruise on the Thames, followed by cocktails at the historic Somerset House. It was an adventure that left many CORFAC members calculating the quickest way to set up a deal with Alistair and Charlie, thus cementing the need for a return trip!
This CORFAC conference, the first to be hosted outside the U.S., drew nearly triple the anticipated attendance. The tremendous response was largely due to the exceptional effort of Jonathan Salk and his staff, who continually refine the value CORFAC delivers. It was the perfect international combo – a satisfying one-two punch of actionable content and great networking in a truly spectacular cosmopolitan setting.
As we mentioned in our previous post, SFMade is a great local organization, dedicated to rebuilding the Bay Area’s vibrant manufacturing sector. One of the big success stories of SFMade is Seven Stills, a thriving Bayview craft brewery and distillery, where talented brew masters explore the nearly miraculous transformation of beer into whiskey. Due in large part to their extremely cool product concept, TRI retail advisor Ross Portugeis recently negotiated deals for Seven Stills at 100 Hooper and 150 Hooper, where they will soon open a production/manufacturing facility and restaurant.
The SFMade Spotlight on Seven Stills can be read here!
To book a tour or an event with Seven Stills click here!
Become a part of the Seven Stills Founders Club here!
Photo: 100 Hooper – Plans for the new site for Seven Stills production/manufacturing facility and restaurant.
HoonDog’s Legend Lives! June 1 marked the 50th anniversary celebration of the hit movie Bullitt, as well as the 11th annual Friends of Steve McQueen Car Show in Los Angeles, so a group of 27 hardcore Bullittheads from around the country (some who’d driven as much as 3,000 miles just to get to the event) tacked a 400-mile side trip onto their once-in-a-lifetime journey, cruising from L.A. to San Francisco together to relive a few of the movie’s epic chase scenes.
TRI President, Tom Martindale, was included in that Bullitt-bunch of 27. What’s better–with his extensive knowledge of San Francisco’s streets (due to 30 years of service in #SF #CRE) he was asked to be one of two drivers to lead the caravan roaring down 101, weaving through Lombard Street, and wrapping up beneath San Francisco’s iconic Golden Gates.
Sounds like fun, doesn’t it? Watch the video below to be taken along the journey…
Be a #CRE Advocate, Not Just an Agent
For TRI retail advisor Ross Portugeis, commercial real estate is about more than brick-and-mortar transactions. Ross is a passionate advocate for local entrepreneurs, and for sustainable growth of small business throughout the community. But these are challenging times in San Francisco’s overheated #CRE market and it takes more than one person chipping away at the problem to make a difference. Enter SFMade, a dynamic local nonprofit dedicated to reviving and expanding manufacturing in San Francisco. Ross is a staunch supporter of their work and now sits on the board of their subsidiary, 150 Hooper Inc.
The 150 Hooper project is a joint venture with Kilroy Real Estate, creating a dedicated hub for manufacturing businesses. Through the agreement, SFMade, through their subsidiary Placemade, will take ownership of a brand new 50,000-sf production, distribution, and manufacturing facility. Lease income will support the work of SFMade and help the organization expand, while local manufacturing businesses will have the perfect space to put down roots and grow.
In a city where big business has a clear and nearly unchallenged advantage in commercial real estate,
SFMade and Ross Portugeis are helping to deliver a satisfying win.
*Photographs taken at The Bay Area Urban Manufacturing Summit in November, 2017
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