Business & Real Estate
- Published on Tuesday, 11 March 1997 19:12
- Written by Clyde Noel - Town Crier Staff Writer
New owner for Foothill Plaza; Clarke's comes to Rancho
On March 3, Foothill Plaza Shopping Center was sold to a large publicly traded corporation, Burnham Pacific (BPP), for $6.18 million. The 52,315-square-foot neighborhood shopping center is 86 percent leased and anchored by the 22,413-square-foot Payless Drug Store.
The new owner, Burnham Pacific, is a fully integrated, self-managed real estate investment trust (REIT) and a developer and owner of commercial real estate properties throughout California.
The Hick'ry Pit closed their doors March 2. The 4,150-square-foot location will feature another new restaurant called "Pasta Grotto." The restaurant will serve a variety of pizzas, pastas and micro-brewed beers.
Correction published March 26, 1997
A March 12 Town Crier article, "Taking care of business," incorrectly reported the Hickr'y Pit closed its doors March 2. The Hickr'y Pit will remain open for an indefinite period since Foothill Plaza was sold to new owners, Burnham Pacific. The new restaurant to replace the Hickr'y Pit, "Pasta Grotto," will go in after contracts are signed with the new owners.
Rancho Shopping Center
Andronico's celebrated their first anniversary and featured a trip to Wales and the appearance of Narsai David. According to president Bill Andronico, their Rancho store is exceeding all expectations.
Clarke's signed a lease with De Anza Properties for the former Blintz and Laliotis spaces (4,038 square feet). The spaces will be completely remodeled and updated.
Lucky Supermarket is starting its expansion and remodeling of the Lucky store. Demolition has begun on the adjacent two-story office building.
Formerly Tri-City Lock and Daily Grind property is vacant and currently, there are no developments. Tri-City lock moved to the vacant portion of the building located next to the Fourth Street Library Grille.
Seer Systems Inc., designers of the "the world's first professional software synthesizer," moved into the former Coldwell Banker office at 301 S. San Antonio Road.
The system can turn a computer into a music synthesizer without having to purchase a piano keyboard.
Ashland House, 199 Second St., is liquidating. Nancy Terry is closing to care for her mother.
Something Special has something special in its window until Easter. Two baby mini lop rabbits which will be given away by the Los Altos Village Association as part of their Easter festivities.
Koo Koo Roo restaurant must resolve several technical issues with the city for operation in its downtown location. The seating will be reduced from the original number.
Here's an update on business activity in Los Altos over the past month:
Denby and Associates leased office space at 851 Fremont Ave.
Acumen has also leased space at 851 Fremont Ave.
Tenant directories will be installed at strategic locations through the area to help shoppers locate business easily and patronize them.
This is a project of the Loyola Corners Association.
Clyde Noel is business editor of the Town Crier.