Alamo Plaza, a 195,480-sf shopping center in Alamo, is located at Stone Valley Road and Danville Boulevard. A newly remodeled Safeway, Rite-Aid and Richard's Craft anchor the plaza. Some of its other tenants include Blockbuster Video, Round Table Pizza, Baskin-Robbins, Bank of America and the United States Postal Office.
Approximately 40,000 people live within a three-mile radius of Alamo Plaza, with an average household income of $108,000. Alamo Plaza currently has two spaces available for leasing. A 1,200-sf space and a 1,648-sf space are open at this time, and a 910-sf store will be available in February.
"This lease award is an example of our ability to serve large institutional clients," said Michael Mundelius, vice president at Colliers International in Walnut Creek. "Institutional clients require their brokerage firms to have a capability of strong reporting and an ability to handle large assets. We provide those services routinely and it shows with this project."
In addition, Colliers handles the leasing for Growers Square, a 188,000-square-foot office complex in downtown Walnut Creek. Mundelius expects traditional grocery- and drugstore-anchored centers to perform well as the economy recovers because services at these types of centers, like grocery stores, are a necessity. He also expects to see retail vacancy rates to stay below 5 percent in the Interstate 680 Corridor in the coming six to 12 months.
"This center is really the hub of downtown Alamo," Mundelius adds. "From getting a picture framed to buying groceries to stopping for a bite to eat, Alamo Plaza is really one-stop shopping for your every day needs."
Colliers also leases and manages several other major shopping centers in the San Francisco Bay Area, including The Willows Shopping Center and The Vineyard Shopping Center in Concord, Calif., and Citrus Center in Walnut Creek.
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