Though many "For Lease" signs still dot the streets and avenues of Rancho Bernardo's shopping downtown, tenants and developers are scoring deals that mean storefronts are starting to fill up again.
Retail spaces in North San Diego and Southwest Riverside counties are split by class: Top-flight properties visible from major roads, with proximity to grocery stores and pharmacies, attract premium customers, while lesser locations struggle to find tenants.
Up to eight businesses can be added to 4S Ranch Village, which when completed this summer will mean the last construction for that shopping center, according to a center official.
Two buildings going up next to Fresh & Easy will add a combined 11,000-square-feet of shopping space, bringing the center to about 67,000 square feet, said Ann Forella, director of asset management for Buie Stoddard Properties. It owns 4S Ranch Village.
Recent business developments in Rancho Bernardo and 4S Ranch include some closures, openings, expansions and relocations.
In the Rancho Bernardo Vons Town Center on Bernardo Center Drive, Blockbuster Video is set to close when its lease expires in late April, said Ron Bamberger, president of Boardwalk Development, which manages the center.
He said Friday that Boardwalk just started advertising the 10,000-square-foot space that could be divided for two businesses looking for a neighborhood clientele.
The former San Diego National Bank building in Rancho Bernardo has been purchased by Boardwalk Development, Inc. in partnership with James Nierman.
The 14,000 square foot, two-story, building at 16789 Bernardo Center Drive is a former Home Federal Savings branch featuring a brick facade, wood shutters and a balcony. San Diego National Bank purchased the building September 1999 for $2,400,000.
The seller was the FDIC as steward for the failed San Diego National Bank, which was taken over by the FDIC in October 2009. The purchase price was $2,500,000.
Three new leases have been completed at the Rancho Bernardo Town Center bringing the shopping center to 100% occupancy. San Diego County Credit Union has leased 7,877 square feet of retail space for ten years, The Kebab Shop has leased 2,160 square feet of restaurant space for ten years and GNC has leased 828 square feet of retail space for ten ye
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