East West Commercial Real Estate is pleased to announce its successful relocation of Jackson Sports Academy (JSA) to McClellan Park in Sacramento County. Effective December 1, 2012, JSA is taking over 72,000 square feet of primarily warehouse space, which represents only a small portion of the 8.5 million square feet of commercial real estate that comprises McClellan Park.
The new space will provide sufficient room for 12 volleyball courts, which is currently the predominant sport for JSA. Other sports to be offered will include basketball, soccer and tennis. According to Dwayne Jackson, Executive Director of JSA, “we’re most excited about the massive parking lot, large upstairs offices with training room, hospitality suite and parent’s lounge, 38-foot high ceilings, plus free-span building without interference from structural support poles.”
Click here for related article by the Sacramento Business Journal or recent news story by Good Day Sacramento.
South Sacramento’s Southgate Plaza is once again the subject of serious interest in commercial real estate circles. First, it was the unfortunate departure of Walmart in 2009, which resulted in the closing of its 135,000 square foot retail store on the southeast corner of Florin Road and Franklin Blvd. The approximate 300,000 square foot commercial shopping center was decimated as remaining tenants gradually moved out due to lack of foot traffic. Following a foreclosure on the property just one year later, the new operator and Sacramento commercial real estate brokers have been desperately trying to attract new tenants (see related article for progress update). Unfortunately, Walmart still controls the lease and is now doing its best to block a subsequent retailer from taking over its space for competitive reasons. County of Sacramento officials are furious and pressuring Walmart to reconsider its position for the good of the community. Brian Jacks of East West Commercial Real Estate’s Sacramento office was quoted by Kelly Johnson in an article, published in the Sacramento Business Journal. In addition, News 10 ran this story about the subject.
The last few years of economic distress has clearly taken its toll on the Sacramento commercial real estate market. One prime example involves the 2009 closing of a 130,000 square foot Wal-Mart facility in Southgate Plaza, located on the southeast corner of Florin Road & Franklin Blvd in South Sacramento.
As the main anchor for this 300,000 square foot community center, Wal-Mart’s departure ultimately created a mass exodus of tenants who had successfully lived off its draw of local shoppers for many years. Holes began to appear with “FOR LEASE” signs being posted by a property manager anxious to re-lease the empty spaces.
Click here for related story by Sandy Nax of the Sacramento Business Journal.
East West Commercial’s Regional Vice President, Brian Jacks, is featured in the Sacramento Business Journal for the recent lease of Hacker Lab. Mark Anderson of the Sacramento Business Journal writes,” Gina Lujan took a big leap of faith Monday, agreeing to move Hacker Lab in September from its 850-square-foot office to a 10,480-square-foot building in downtown Sacramento. Hacker Lab rents desk space and office space to startups ranging from software developers to web designers. The collective shares some equipment and some of the tenants mutually support others with equipment and expertise.” Click Here to continue reading!
Get ready for an infusion of entrepreneurship and software development that is now steadily growing in the Capital region.
Early this year, Gina Lujan (Founder & CEO of Hacker Lab), a native of Sacramento, left the Bay Area to return home. After successfully creating a collaborative workspace environment for software developers in Berkeley, she decided to replicate the business model and expand the vision in Sacramento. Around March 2012, Hacker Lab signed a commercial real estate lease for 850 square feet of second floor office space above Pangaea Café, located at 2743 Franklin Blvd in Sacramento. The space was used to provide rented desks and/or offices for local software developers who wanted to work in a tech community environment.
* Click here for Good Day Sacramento news story and Sacramento Business Journal article.
Brian Jacks, Regional Vice President of East West Commercial Real Estate, was recently quoted in the Sacramento Business Journal for helping Sacramento retail franchisees achieve better commercial lease rates in this tenant’s market. Click Here to read article.
Regional Vice President, Brian Jacks, of East West Commercial Real Estate was interviewed in by Sacramento Business Journal’s staff writer, Mark Anderson, in his exclusive article, “Galleria refinance hints at easing market.” Anderson writes, “The recent $275 million refinancing of the Westfield Galleria at Roseville not only demonstrates the mall’s economic strength — it also is a sign, some say, that the capital markets are finally beginning to free up.” Click Here to Read More.