The 10-year lease was negotiated for 5,000-sf of retail space at the Commons, a two-story, 33,000-sf retail and office complex under construction at Mt. Diablo Boulevard and South Main Street. The project broke ground in April and may be completed early next year. Tiffany's will be its anchor tenant. Rumor has it that Pottery Barn has signed a lease, as well.
According to a Tiffany & Co. spokeswoman, Walnut Creek is one of four areas that the retailer is most attracted to in the Bay Area. Tiffany stores already exist in the other three: San Francisco, San Jose and Palo Alto.
Lamorinda Development and Investment is the landlord of The Corner, while John Cumbelich and Brian Hirahara of John Cumbelich & Associates handle the project leasing assignment. The triple-net asking rate for this type of space is $3.00-5.00/sf per month.
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