Four of the new retailers will occupy ground-level space beneath The Flats, a fully occupied 198-unit multifamily community located in three buildings along Washington and McKinley avenues. Just around the corner, Salon Republic will be located in a 19,000-square-foot ground-level retail space beneath Target on West McKinley Avenue.

"Offering healthful meals, beauty care and technology, these storefronts will add to the vibrancy of the neighborhood and bring it another step closer to becoming a well-rounded district with ample residential, retail and office space," says Deke Hunter, managing member of Hunter Storm.

With phase I of CityLine Sunnyvale nearing completion, progress is being made on phase II, which will expand the scope and scale of the downtown development. Sunnyvale is two years into revising phase II's specific plan and studying environmental impacts, and is slated to release draft documents to the public in the coming weeks. Once approved, phase II will bring additional retail, office and residences to downtown.

"Securing this great group of businesses is the next step in growing this neighborhood into a dynamic district that Sunnyvale residents and workers alike can enjoy," Hunter tells GlobeSt.com. "As we transition into the next phase of CityLine Sunnyvale, we're glad that we've been able to make this progress and are excited about the transformations yet to come to downtown Sunnyvale."

Cityline Sunnyvale has partnered with the city of Sunnyvale and Google to bring a public outdoor skating rink to downtown Sunnyvale this holiday season. The all-ages rink is scheduled to be open from mid-morning through the evening from November 22 through Martin Luther King Day on January 20.

CityLine Sunnyvale was acquired in late 2015 by STC Venture LLC, a joint venture between affiliates of Hunter Storm and Sares Regis Group of Northern California.

According to California's Employment Development Department, the unemployment rate in Santa Clara County dropped slightly quarter-over-quarter to 2.2%, and remains below the national average of 3.5%. EDD figures also indicate the number of tech jobs is currently at an all-time high in the Bay Area, surpassing the dot-com era in 2000 by 16.3%. While Silicon Valley's share of tech jobs has marginally decreased relative to other Bay Area markets, it still holds the lion's share of tech employment with 45.6% compared to the San Francisco/San Mateo market, which has 34.8%.