By Kazuko Morgan, Vice Chairman of Retail Services for Cushman & Wakefield in San Francisco
There’s no doubt about it: we’re in an unprecedented phase of retail’s evolution. Yet on the West Coast, the sector remains vibrant, healthy, and competitive. Finding an entry point into the best neighborhood streets is tough, landlords continue to field multiple suitors for premium spaces in the best locations, and development in cities like Sacramento and San Francisco is pacing well ahead of the national average.
In California’s state capitol, my team of Cushman & Wakefield retail professionals is currently handling leasing for Downtown Commons, or DOCO. This project is quite literally changing the game in downtown Sacramento, an area that until quite recently was abandoned after business hours, and we’re confident it will have a huge impact on the surrounding area. DOCO will be anchored by the Golden 1 Center (home of the Sacramento Kings), Macy’s, and The Sawyer, the area’s first Kimpton-branded boutique hotel. The 16-story mixed-use tower will include 630,000 square feet of retail space, as well as 250 rooms and 50 luxury residences, and will feature Revival at the Sawyer, Sacramento’s first-ever rooftop pool, bar, and lounge. We’re proud to bring incredible brands like Punchbowl Social, Urban Outfitters, YardHouse, and the Las Vegas-based Echo & Rig Butcher and Steakhouse to DOCO, and we look forward to filling the tenant roster with other hip, luxury tenants that complement Sacramento’s revitalized urban core.
Perhaps the most exhilarating project for the West Coast is Chase Center, the new Golden State Warriors arena that will be coming online in 2019 in the Mission Bay neighborhood of San Francisco. Stated quite simply, everyone wants to be there, and we’re thrilled to be the leasing agents responsible for developing more than 100,000 square feet of retail and restaurant space at Chase Center. Together with my colleagues Rhonda Diaz-Caldewey and Kelly Vinson, we’re actively scouting dining and retail operators that are a perfect fit for this location and will enhance the fan experience at this incredible new arena.
Near Union Square, we’re also handling leasing for 6X6, a new development featuring six levels of vertically integrated retail space. This project is ideally situated at the heart of the Mid-Market corridor along some of the most highly trafficked streets in the City, near Westfield’s San Francisco Centre and the world-famous Powell Street Cable Car Turnaround. 6X6 is slated to open in 2018, and a robust leasing program is underway – a testament to the continued stability and demand around the City’s premier shopping locations.
It’s an exciting time to be a broker on the West Coast, and we look forward to delivering incredible tenants to the region’s high streets in the year to come.
To view Kazuko Morgan’s’ Video Interview from “Live at RECon 2017!” CLICK HERE.
Kazuko Morgan is Vice Chairman of Retail Services
for Cushman & Wakefield in San Francisco.