Meet Us at ICSC - Monterey

(Monterey)  Coldwell Banker Commercial Northern California Retail Division will be exhibiting at the ICSC Deal Making Conference in Monterey March 26 - 27.

ICSC stands for Innovating Commerce Serving Communities (formerly the International Council of Shopping Centers) and serves as the globally recognized retail marketplace for retail sales and leasing.   CBC agents will be representing clients and their retail properties, and meeting with prospective tenants, developers and shopping center buyers and sellers.   

To schedule an appointment, contact Mike Donnelly at 530-828-0011 or CLICK HERE to email.

Power Corner Commercial Center Sold

Corner of East & Esplanade

(Chico) Coldwell Banker Commercial C&C Properties has announced the sale of Esplanade East, a three parcel commercial center at the corner of East and Esplanade. The centerpiece of the portfolio is the ARCO AM/PM gas station on the corner, and the adjacent Jack in the Box drive through.

The rest of the complex is a mixed use, two story retail strip center with various tenants including a furniture store, laundromat, massage studio, modeling agency and attorney’s office. It was also the former home of the popular Hula’s Restaurant, which closed in the midst of COVID, never to reopen.

Former Hula’s Restaurant

The property was purchased by an investment buyer planning to redevelop the center. Esplanade East was sold by Mike Donnelly and Brian Littrell of Coldwell Banker Commercial representing the seller. The buyer was represented by Sima Saboury of Porchlight Realty.

Iconic Airport Building Sold

Former Mach 1 Building - 1000 Fortress St.

(Chico) Coldwell Banker Commercial C&C Properties has closed on the iconic 1000 Fortress Building across from the Terminal at the Chico Municipal Airport. The 30,915 sq. ft. office warehouse building was the original home of Mach 1, a publishing company established in the 90’s.

Over the years, the building was used by an insurance company, Facebook, FEMA, the Paradise School District in the aftermath of the Camp Fire, and even a Tiffany lamp web retailer. It was purchased by California Partnership Health for an undisclosed amount. The sale was handled by Mike Donnelly and Brian Littrell of Coldwell Banker Commercial representing the seller, and Chuck Griffith of Shoemaker Commercial representing the buyer.

Chico Offroad Rentals Opens

Chico Offroad Rentals

(Chico) Chico Offroad Rentals, an exciting all terrain vehicle rental and repair business has landed at a high profile business corner. The company with the motto “we rent and repair fun”, has opened up shop at the corner of Esplanade and Shasta Ave.

Chico Offroad Rentals has been based in Cohasset, the gateway to offroad wilderness adventure. The company needed a more public customer base location, and reached out to Coldwell Banker Commercial to lease the perfect facility at 2990 Esplanade.

The lease was handled by Mike Donnelly and Brian Littrell. For more information on how we can help you with your commercial real estate needs, contact Mike at 530-828-0011 or Brian at 530-514-9035.

TasteMe Tea Coming to Skypark Plaza

TasteMe Tea Opening Soon in Skypark Plaza

(Chico) Get ready for tasty tea and treats in Skypark Plaza, Chico’s most thriving and successful shopping centers. TasteMe Tea is opening up in the food court area next to Subway and Sports Barbershop in the Raley’s anchored center on the Skyway an Notre Dame Blvd.

TasteMe Tea will take full advantage of a beautiful outdoor dining area, an amenity offered by the ownership to business tenants and customers alike.

Outdoor Food Court at Skypark Plaza

Skypark Plaza has undergone an extensive remodel, and is one of the most popular and highest sales generating shopping centers in Chico. The Skypark Plaza property management team supports the tenants with a dedicated website at www.SkyparkPlaza.com.

The TasteMe Tea lease was handled by Mike Donnelly, Ken Miller and Karin Knorr representing the Landlord and Jennifer Serna representing the Tenant.

Eaton & Floral Neighborhood Center Under Construction

(Chico) Spaces are filling up fast at the new neighborhood commercial center at the corner of Eaton & Floral in the heart of Chico’s Sycamore Creek development area. Two of the three buildings planned are under construction and will be completed soon.

Several businesses have already secured their space including a drive through coffee shop, pizza take out, brew pub, liquor store market and a financial services firm.

The leasing is being handled by Coldwell Banker Commercial. For information on leasing CLICK HERE.

Also contact Brian Littrell at 530-514-9035 or Mike Donnelly at 530-828-0011.

Jesus Center to Open New Ampla Health Clinic

Coldwell Banker Commercial C&C Properties is happy to have assisted the Jesus Center in leasing a new clinic facility to Ampla Health to help people experiencing homelessness. Ampla Health will operate a 4,000 sq. ft. space medical clinic inside the new 27,000 sq. ft. Renewal Center Campus at 2216 Fair Street in Chico.

The 10-exam room clinic will focus on providing Primary Care Services, Substance Use Disorder (SUD) Treatment, Medically Assisted Treatment (MAT), Psychiatric, and Mental Health services. The lease was handled by Coldwell Banker Commercial broker Mike Donnelly, Brian Littrell and attorney Timothy Ferris.

A ribbon cutting ceremony will take place June 14th to celebrate the grand opening of the clinic and the entire Renewal Center.

To see the full press release, please CLICK HERE.

Coldwell Banker Commercial to Attend ICSC Conference in Las Vegas

(Las Vegas) Coldwell Banker Commercial has announced that it will be attending the ICSC Conference in Las Vegas, Nevada May 21 - 23. The ICSC conference is the largest global gathering of retail real estate professionals and industry leaders. This annual event brings together over 37,000 attendees from over 100 countries, including retailers, investors, developers, architects, and other professionals from the retail real estate industry.

Broker Associate Mike Donnelly

ICSC stands for Innovating Commerce Serving Communities (formerly the International Council of Shopping Centers) and serves as the globally recognized retail marketplace for retail sales and leasing.   CBC Broker Associate Mike Donnelly will be representing clients and their retail properties, and meeting with prospective tenants, developers and shopping center buyers and sellers.  

Attending the ICSC conference provides Coldwell Banker Commercial with the opportunity to network with other industry professionals and learn about the latest trends and developments in the retail real estate industry. The conference offers a diverse range of educational sessions, keynote speakers, and networking events, allowing attendees to gain valuable insights into the future of retail real estate.

At the ICSC conference, Coldwell Banker Commercial Northern California Retail Division will showcase its latest products and services, and provide attendees with the opportunity to learn about the company's expertise and capabilities in the retail real estate industry.

For more information about the ICSC Conference, visit www.icsc.com.

To Schedule an appointment with Coldwell Banker Commercial Northern California Retail Division, call Mike Donnelly at 530-828-0011 or CLICK HERE to send an email.

New Coldwell Banker Commercial Office in Iconic Meriam Park Building

Iconic New Coldwell Banker Office

(Chico) Coldwell Banker Commercial C&C Properties is making a landmark change in moving to one of Chico’s most modern and iconic new buildings in Meriam Park. The company will take up nearly three quarters of the building at 1802 Foundation near the eastern entrance to Meriam Park off of Bruce Road.

The new offices are just steps away from where the massive new Enloe Hospital Cancer Center will be built. “It’s an absolute game changer” said Mike Donnelly, longtime commercial Broker Associate at Coldwell Banker Commercial. “This location is absolutely ground zero for the best business and commercial activity in Chico and Northern California, and we are thrilled to be in the very heart of all the action. This strategic move is great for our customers and great for our agents and staff” said Donnelly, who was instrumental in putting the deal together with building owner Fred Penney.

Both the commercial division and the residential division will occupy three office units on two floors starting in August of 2023. “It’s one of the most amazing buildings in Chico”, said Brian Littrell who also brokered the deal. “The second story office is surrounded by floor to ceiling full length windows with incredible views. The natural lighting and interior design make for an enjoyable customer experience and employee work environment. It’s the future of office space” he said.

Hot & Healthy New Business to Open in Lassen Promenade

(Chico) Coldwell Banker Commercial agents broke a sweat to bring Perspire Sauna Studio to Lassen Promenade, one of Chico’s most charming and vibrant neighborhood shopping centers. Perspire Sauna Studio is a fast growing health and wellness franchise that upgrades and enhances the sauna experience through infrared technology.

The business is being developed by Rachel Bartlett and Gina Caianiello, who plan to hold a grand opening and offer discount memberships starting in July. The studio will feature up to seven private saunas and guests will be able to choose from a wide assortment of light color therapies, entertainment options and temperature settings. Holistic wellness advocates say the unique sauna experience helps invigorate and refresh the body and mind and the infrared heat cleanses the body of toxins and releases tension.

The new studio is located in the CVS anchored Lassen Promenade at 2760 Esplanade, Suite 140 at the corner of Lassen & Esplanade. The lease was handled by Mike Donnelly and Brian Littrell of Coldwell Banker Commercial.

Coldwell Banker Commercial at ICSC Monterey

(Monterey)  Coldwell Banker Commercial Northern California Retail Division will be exhibiting at the ICSC Deal Making Conference in Monterey February 28 - March 1.

ICSC stands for Innovating Commerce Serving Communities (formerly the International Council of Shopping Centers) and serves as the globally recognized retail marketplace for retail sales and leasing.   CBC agents will be representing clients and their retail properties, and meeting with prospective tenants, developers and shopping center buyers and sellers.   

To schedule an appointment, contact Mike Donnelly at 530-828-0011 or CLICK HERE to email.

Urban Land Institute 2023 Emerging Trends in Real Estate Report

Every year for nearly two decades, we have looked forward to the annual Emerging Trends in Real Estate report by PwC and the Urban Land Institute, a comprehensive analysis of where the commercial markets are heading.  The report is an economic forecast based primarily on the views of more than 1,400 industry professionals, and highlights best bets on the various real estate asset classes. We have put together our own survey to find out what commercial property investors are looking for in the coming year, and to provide a valuable communications tool to take advantage of opportunities that may be forthcoming. To take the survey, please CLICK HERE.

The ULI Emerging Trends report is an invaluable tool for planning the year ahead and providing resourceful information for colleagues and clients.  Here are some of the top bullet points taken from this year’s report:

• Risk of a more profound recession is growing

• Cautious optimism that any downturn will be short lived.

• Markets are actually “Normalizing”

• Cap Rates are rising as asset prices and returns decline

• Housing Market is Decelerating

• Construction Starts Down

• Buyers and Sellers are far apart on pricing

• Sellers have not capitulated enough to recognize the new environment

• Many investors have moved to the sidelines, or other assets like equities and bonds.

• Fewer investors and lenders will be providing capital

• Debt is getting more difficult to obtain

• Cash is King

• Could be a soft landing

• Very little signs of distress

• Balance sheets are generally strong

To see the full report and our comments click on 2023 EMERGING TRENDS

There are other elements of the ULI report that we intend to explore, such as the lack of interest in reinvigorating Central Business Districts (Downtown Main Streets), the future of office work and even the affect of climate change on commercial real estate.

As always, we believe commercial real estate should be a fundamental part of everyone’s investment portfolio, and a well thought out strategy is essential. Have a wonderful year in 2023. Let’s do some business!

Mike Donnelly

Brian Littrell

Jennifer Fortino

Party Time at La Fiesta!

(Chico) The party has returned to the legendary corner of Fair Street and Park Avenue across from the Silver Dollar Fairgrounds in South Chico. The family owned and operated La Fiesta Mexican Bar and Restaurant has opened at 2490 Fair Street., the gateway location to Chico’s emerging brewery and distillery district. For decades, the restaurant location has served as a popular dining hot spot.

La Fiesta offers a wide range of classic Mexican dishes and family recipes in a fun, colorful and of course festive atmosphere. La Fiesta is open for breakfast, lunch and dinner and offers delivery service. Beer, wine and spirits will be served as soon as the business receives its ABC license. The restaurant is well positioned to serve the large and hungry workforce in the Park Avenue and Hegan Lane Industrial Park areas, and cater to patrons of events at the Silver Dollar Fairgrounds.

The lease was handled by Mike Donnelly, Barbara Weibel and Brian Littrell of Coldwell Banker Commercial C & C Properties representing the Landlord, and Jen Spaletta of Century 21 Select Commercial representing the Tenant.

Driverge to Open Plant at Chico Airport

(Chico) A nationwide van conversion company is opening up a major vehicle assembly plant at the Chico Municipal Airport Industrial Park. Coldwell Banker Commercial C & C Properties has announced that the company “Driverge Vehicle Innovations” has leased more than 35,000 square feet of warehouse and office space at the former Koret Building at 1000 Fortress Ave. Driverge is the country’s leading builder of commercial accessible vans, shuttles, transporters, work vans and recreational vehicles. The company recently bought out Chico based NorCal Van Conversions and is rapidly expanding to provide enhanced manufacturing, product offerings, and distribution in support of operations in the western United States.

New Driverge Location at Chico Airport

Driverge was represented by Mike Donnelly and Brian Littrell of Coldwell Banker Commercial. “This is exactly why I got into this business in the first place”, said Mike Donnelly, a Broker Associate and long time economic development proponent. “This is the kind of manufacturing business that creates jobs and brings in outside revenue into our community”, he said. “And it’s great for the Chico Airport Business Park, which is starting to take off again”, Donnelly said.

According to Donnelly, the City of Chico staff was instrumental in helping to land the company by assisting with the permit verification, approval and occupancy process.

Plumas Bank to Open Chico Branch

(Chico) Coldwell Banker Commercial C&C Properties is happy to help Plumas Bank open a new branch at a prime location in Chico. The fast growing bank is moving into the corner of Mangrove Ave. & Palmetto Ave. in Mangrove Plaza, right across the street from McDonalds. “It’s one of the best locations in Chico”, said Brian Littrell, who brokered the sale along with Mike Donnelly. “This is the gateway to downtown and a daily needs shopping area”, he said.

Plumas Bank has been expanding steadily, and the full service Chico Branch will be the company’s 15th location. The holding company for Plumas Bank, Plumas Bancorp is listed on the NASDAQ stock exchange under ticker symbol PLBC. The building at 900 Mangrove will be renovated with green-friendly upgrades including solar power, low water landscape and energy efficient HVAC and appliances. For more information about Plumas Bank’s expansion, please CLICK HERE.

Arby's Opens in Oroville

(Oroville)  The remarkable transformation of Sumner Square is complete with the opening of a new Arby’s Drive Through in Oroville.  The modern and contemporary quick serve restaurant owned and operated by Kang Foods, LLC completes a decade of development and construction at the commercial center next to CVS on the heavy retail corridor of Oro Dam Blvd. at 5th Ave.  The former site of a retail trailer dealership, the property was first redeveloped into an office strip center, with two retail pads out front, that ultimately became KFC and Arby’s restaurants.

Almost every step of the way, Coldwell Banker Commercial retail agent Brian Littrell was there, leasing out office space and then brokering the Arby’s land sale, helping the company navigate the City of Oroville planning process.  Littrell’s crowning achievement was then to sell the final office strip center to a medical owner/investor. 

Littrell and Coldwell Banker Commercial remain as leasing agents for office space at the center.  For more information call 530-514-9035.

DERCO Supply Expands to Chico

(Chico) One of the Northstate's most established tool and fastener companies is expanding to Chico. Derco Supply is a family owned and operated Fastener Supplier serving Northern California since 1987. Derco Supply provides farmers, manufacturers and others with a long list of products such as Hand Tools, Impact Tools, Air Hoses & Fittings Drill Bits & Hole Saws, Black & Stainless Pipe Fittings, Aerosol Lubricants Wire & Accessories, Trailer & Towing Accessories, and many other products. The new shop will be located at 2526 Fair Street, a high provile location just off the corner of Park Ave. and Fair St.

Derco Yuba City Shop

The company is perfectly situated to serve Ag and Industrial companies in the South Chico area and gateway to Butte County farm lands. Derco's original store continues to operate at 2920 Colusa Highway Suite A, in Yuba City. The lease was handled by Mike Donnelly of Coldwell Banker Commercial.

Coldwell Banker Lists Shopping Center Development

(Chico)  Coldwell Banker Commercial Northern California Retail Division is pleased to offer Chico's next shopping center location.  The company has announced it has been selected to list the nearly ten acre development site in north Chico next to Shasta Elementary School.  "There has been incredible residential growth in the area, and this part of town is eager for a grocery store and other services" said Mike Donnelly, long time Broker Associate for Coldwell Banker.  "Not only is this location perfect for shopping, it can also accomodate a hotel and drive through coffee chain", he said.

"The nearest grocery store is Save Mart, about five miles away", said Brian Littrell, who is co-listing the property.  "This shopping center will be far more convenient and alleviate traffic and congestion along the Esplanade, plus give shoppers more choices", Littrell said.  "Plus it has incredible frontage along Highway 99 for major visibility and drive by exposure", he said.  The development land is being offered for $6,086,000.  For more information CLICK HERE.

Coldwell Banker Commercial Sponsors Economic Forecast

Coldwell Banker Commercial supports Chico State and Economic Development! We are a proud sponsor of the annual Economic Forecast set for this Thursday, January 27th. For more information, click on:

Center For Economic Development.

Mike Donnelly and Coldwell Banker Commercial have a long history of supporting business, economic development and job creation activities in Northern California. For more information about our services, please call 530-828-0011.