San Jose: Vacant Nob Hill store will be home to a new church amid community concerns

A vacant former Nob Hill grocery store at the center of a debate over whether the city should step in when commercial landlords let empty storefronts fester will soon become a church.

But community leaders who protested other plans to fill the site that had become blighted and infested with rodents over the last two years said the latest proposal is hardly an improvement for the struggling retail center.

“I was disappointed, I think it’s inappropriate for a church to be inside an anchor store in a strip mall,” said Issa Ajlouny, who’s lived in the neighborhood for 33 years and spearheaded a push to get the space filled. He fears the church will attract homeless people to the shopping center.

“Will that make things worse?” Ajlouny asked. “Is that fair to the other stores in the center?”

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Downtown San Jose blighted blocks may get new life

SAN JOSE — A plan to build several dozen residential units in downtown San Jose is part of wide-ranging efforts to transform some blighted blocks, decaying buildings and vacant lots in the city’s urban heart into a vibrant community.

“Ultimately this is going to be a great, brand-new neighborhood in downtown San Jose,” said Bob Staedler, principal executive with Silicon Valley Synergy, a land-use and planning consultancy. “This area north of San Pedro Square has always been the hole in the doughnut of the downtown.”

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San Jose council agrees to buy land near Google project amid resident concerns

SAN JOSE — City leaders Tuesday agreed to buy six pieces of land near Google’s proposed tech village for parking and road improvements despite concerns from some residents that taxpayer dollars are being spent to subsidize the tech giant’s private development.

Mayor Sam Liccardo stressed that the land acquisitions approved Tuesday will support improvements that were planned for decades — with or without Google’s proposed tech campus. Liccardo also said the money pegged for the land buys — about $15 million total — was allocated years ago and that $4 million came from Trammell Crow, Google’s development partner.

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NAI Northern California celebrates continued growth with 21% revenue increase by third quarter of 2017

The tech-forward, collaborative brokerage continues to emerge as an up-and-comer on the Bay Area commercial real estate scene

SAN FRANCISCO, CA – October 17, 2017–  Continuing to evolve as a growing force in the San Francisco Bay Area commercial real estate landscape, NAI Northern California forges into the third quarter of 2017 with revenue already surging past 2016. As of October, the brokerage has increased gross revenue by 21% over last year. Across retail, multifamily, office, industrial, and land, the total square footage of transactions closed by the team more than tripled.

In regards to NAI Northern California’s growth and the current market, President James Kilpatrick points out, “While the Bay Area has been experiencing an extraordinarily long real estate cycle, this seems to be accelerating further as our number of successful transactions is up by 31%.”

Multifamily investment sales are active as investors focus on residents looking beyond San Francisco to the East Bay. Top producing broker Shivu Srinivasan closed the $28.75 million acquisition of an 88 unit apartment complex at 4445 Stevenson Boulevard in Fremont and the $13 million sale of a 70 unit property at 250 West Jackson in Hayward.

In retail, NAI Northern California is carving out a niche by successfully closing over $100 million in triple net shopping centers and single tenant properties this year.Top producer Mary Alam spearheaded the $13.6 million sale of the Newark Shopping Center and several Walgreens properties among others.

Growing market share is directly impacted by the addition of talent. In 2017, experienced industry professionals Tony Alanis, Kevin Flaherty, Fritz Jacobs, Matt Gorman, Gregg Steele, Reggie Regino, Brent Stiggins, and Darija Walker joined the company’s brokerage and financing groups.

James Kilpatrick remarks, “Our growth is truly predicated on our talented team. We are unique in the commercial real estate industry, empowering our professionals to take a collaborative approach supported by a tech-forward platform that helps them be nimble as they get deals done for our clients.”

About NAI Northern California
NAI Northern California is a progressive, full service commercial real estate firm serving the Bay Area. Recognized as one of the Top 25 Commercial Real Estate Firms by the East Bay and San Francisco Business Times, we are committed to delivering best in class services for our clients.

www.nainorcal.com

How California’s State And Local Governments Are Addressing The Affordable Housing Crisis

With the highest cost of housing in the nation, California’s affordable housing crisis is threatening the economic vitality of the state.

The majority of renters, more than 3 million, pay more than 30% of their gross monthly income for housing, and one-third of renters, about 1.5 million, pay more than 50% of their income for a place to live, according to a California Department of Housing and Community Development report.

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Silicon Valley Housing Faces Significant Community Opposition

San Jose is trying to make development easier by creating urban villages that are meant to be walkable, bike-friendly, transit-oriented, mixed-use areas throughout the city, according to San Jose’s website.

But the city is struggling with defining what these villages are and how they will look, she said. This makes it even more difficult for developers to create projects that fit within these plans.

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San Jose: Retailers hold “community hostage” by keeping leases on empty buildings

SAN JOSE — After an anchoring Nob Hill grocery store closed in a prominent shopping center two years ago, the owners of a Chinese restaurant a few doors down hoped a new retailer would jump right in.

It hasn’t happened. The former supermarket building at 7076 Santa Teresa Boulevard has sat empty. And instead of drawing hungry shoppers, it gathers trash and a pesky new tenant — rats.

Read more from East Bay Times