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New restaurant, PetSmart among recent deals

By   /   Tuesday, August 17th, 2010  /   Comments Off on New restaurant, PetSmart among recent deals

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A flurry of commercial real estate deals closed around the Tri-Counties over the past few days. Here is a roundup of the new leases:

• On Aug. 16, the owners of Santa Barbara Shellfish Co. signed a lease on a 5,368-square-foot spot at 330 State St. for a new restaurant location.

Tom and Adam White, who also own and operate the Santa Barbara FisHouse and the Boat House, chose the former home of One World Imports to open their fourth joint. They are planning extensive remodeling for the spot and said the new restaurant will be “a new concept that we believe has the potential to become a Santa Barbara classic.”

The beach end of Santa Barbara’s downtown has started to see some long-awaited leasing activity, including the recent news that retailer REI will open a 24,500-square-foot store there in 2011.

“These two leases show the resilience of downtown Santa Barbara, even at a time when most cities are struggling with high retail vacancies,” broker Michael Martz of Hayes Commercial Group said in a release. “Here we have a national retailer and a local restaurant family both investing in the commercial potential of Santa Barbara. It’s a positive sign.”

Martz, Kristopher Roth, and Steve Hayes of Hayes Commercial represented all parties in the lease deal.

• Camarillo is home to a new PetSmart location. The pet store is leasing 16,800 square feet at the Camarillo Village Square center. Stephen Leider of Lee & Associates Central Coast and Eric Termansen of Western Retail Advisors represented PetSmart.

• Dollar Tree has opened for business in its new 11,030-square-foot store in the Telephone Road Plaza in Ventura. The center, anchored by a Burlington Coat Factory, will also host Ventura County’s first Wimco when it opens in 2011.

Linda Hagelis and Rob Devericks of Hagelis Group represented the landlord and Wilson Commercial Real Estate represented the tenant.

• Performance Bicycle relocated from Ventura to an 8,200-square-foot space in the Market Place Shopping Center on Ventura Boulevard in Oxnard. Linda Hagelis and Rob Devericks of Hagelis Group represented the landlord and Springstead &

Associates of Newport Beach represented the tenant in the 10-year lease deal.

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