Is Sacramento's Supply Of Restaurants Outpacing Demand?
Sacramento could be reaching a tipping point for new bar and restaurant openings. That's according to a new report from Colliers International Sacramento, a commercial real estate firm. Colliers says there's a real chance of supply outstripping demand. The Sacramento Business Journal's Digital Editor Sonya Sorich says that for restaurant operators, it reinforces the importance of staying competitive.
"Observers say you need to be nimble and adaptive to survive in the current restaurant climate," says Sorich. "And there are also some implications for landlords here: Those behind the Colliers report say landlords need to be thoughtful about rents for restaurants, especially amid rising labor costs."
By the end of the year, more than 200,000 square-feet of new bars and restaurants will be opening in the central city. That's mostly because of the changes in retail: landlords are now opting for cafes and breweries as shopping habits for items like clothing shift online.
Cookie Dough Store Eyeing Roseville Galleria Site
Westfield Galleria in Roseville — the Sacramento area's largest shopping center — could soon be adding an unusual new store: A locally-owned business called Dough by the Spoon. Sorich says it would sell edible cookie dough.
"To ensure safety, similar businesses in other cities use a pasteurized egg product instead of standard eggs, and ready-to-eat flour," says Sorich. "The operators of Dough by the Spoon say their cookie dough will be made without eggs."
Plans are still being finalized, but the business hopes to open in the fall. It would also sell mini doughnuts and ice cream sandwiches. Other shops slated to open in the Galleria include a Lego store, a tea store called T2 and women's fashion retailer Tory Burch.
Charter Schools Moving Into Now Shuttered For-Profit College Campuses
Charter schools now fill nearly all of the spaces that used to be occupied by for-profit colleges in the Sacramento area, including Heald College and others that closed amid financial losses and government scrutiny. That's according to a report from a commercial real estate firm called Cushman and Wakefield. Recent closures of for-profit colleges put 290,000 square feet of space on the local market. Sorich says a lot of those spaces needed to be renovated.
"Charter schools require building improvements very similar to a regular public school," says Sorich. "There are requirements ranging from public safety standards to compliance with the California Energy Code."
In Roseville, John Adams Academy found a home in a former Heald College campus. And in Rancho Cordova, a former Heald site is now the home of a private medical school. Charter schools are K-12 schools affiliated with the local public school system, but operate under separate bonds and organizational structures.
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