REAL ESTATE

Jamestown acquires San Luis Obispo retail, office portfolio

BY Katherine Boccaccio

San Francisco — Jamestown said Wednesday it has acquired a real estate portfolio in downtown San Luis Obispo, Calif., comprised of 86% retail and 14% office space in open-air, multi-story settings.

The retail component, purchased from Copeland Properties, consists of seven assets, the most notable being Court Street Centre and Downtown Centre, and totals approximately 195,000 sq. ft. The portfolio also includes 28,000 sq. ft. of office space in three separate properties.

“This acquisition is part of Jamestown’s strategy to acquire street-level retail in vibrant markets with a strong sense of community,” said Jamestown COO Michael Phillips. “Downtown San Luis Obispo is a pedestrian friendly, desirable shopping and recreational destination with a unique small-town feel.”

The portfolio is occupied by Barnes & Noble, Urban Outfitters, Pottery Barn, Abercrombie & Fitch, Express, Gap, Banana Republic, Victoria’ Secret and Apple. Currently, there is 25,000 sq. ft. of space available for lease.

Jamestown acquired the properties in exchange for a $50.5 million investment in its Premier Property Fund, which includes New York’s Chelsea Market, 22 Fourth in San Francisco and 733 10th Street in Washington, D.C. Copeland will continue to be engaged in ongoing management of the properties.

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REAL ESTATE

RMC Property names leasing exec

BY Katherine Boccaccio

Tampa, Fla. — RMC Property Group said Wednesday it has named Jannie DelRio as a leasing executive, specializing in tenant representation.

DelRio previously worked with a Tampa-based brokerage firm representing tenants such as Great Clips for Hair, Smoothie King, It’s a Grind Coffee House, Dunkin Brands, Quizno’s, Stride Ride and Papa John’s Pizza.

At RMC, DelRio’s tenant representation assignments in Southwest Florida include Bull Chicks, a Texas-based fast casual concept, and Firehouse Subs.

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REAL ESTATE

BJ’s Restaurants opens in Puyallup, Wash.

BY Katherine Boccaccio

Huntington Beach, Calif. — BJ’s Restaurants said Wednesday it has opened a new restaurant in Puyallup, Wash.

The 8,500-sq.-ft. BJ’s Restaurant and Brewhouse opened Monday at South Hill Mall, a 1 million-sq.-ft. Cafaro Co. property.

"We are very excited to open our first restaurant of fiscal 2013 in Puyallup, a suburb of the Seattle market," said Greg Trojan, BJ’s president and CEO.

Trojan said the company remains on track to open as many as 17 new restaurants during fiscal 2013, including the relocation of an older, smaller-format "pizza and grill" restaurant to a site that can support a larger-format BJ’s restaurant.

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