Gateway Courtyard LLC is the project developer. The LLC's project coordinator is Scott Sheldon of Premier Commercial Real Estate. Terranomics is marketing the property.
Phase One tenants include national retailers Barnes & Noble, Linens-N-Things and Aaron Brothers. The property has a capitalization rate of 8.5% and a 2002 pro forma NOI of $1.3 million. The 8.2-acre site offers access from the 80 freeway and has parking for 379 cars.
Despite a slowing in commercial market sectors during the last quarter of 2000, a general improvement is expected during the second half of this year, according to a quarterly report from the National Association of Realtors. LaSalle Investment Management forecasts that demand for retail space will continue to grow as tenants push into new markets.
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