Gateway Village – Kohl’s To Open 11 Stores –With 1,650 Jobs — on Oct. 7
Kohl’s To Open 11 Stores –With 1,650 Jobs — on Oct. 7
Kohl’s Department Stores will open 11 stores in the Bay Area Oct. 7, bringing the total number of stores for the Menominee Falls, Wis., retailer in California to 62. The new stores will employ a total of 1,650, the company says.
The new stores include two in San Jose: at 2323 McKee Rd., and at 890 Blossom Hill Rd. Both San Jose locations are former Kmart stores.
Other Silicon Valley sites include 43782 Christy Street, Fremont; 6765 Camino Arroyo Drive, Gilroy, and 3700 El Camino Real, Santa Clara.
Other Bay Area stores will be in Brentwood, Colma, Petaluma, Pleasanton, San Leandro and Vallejo. Including the new stores it opens in October, Kohl’s operates 637 stores in 40 states.
Kohl’s also says it’s formed a partnership with Lucille Packard Children’s Hospital at Stanford and Children’s Hospital-Oakland which will be beneficiaries of local “Kohl’s Cares for Kids” children’s hospital fundraising efforts. Kohl’s supports the program through the sale of specially selected items in its stores four times a year.
Kohl’s posted sales of $10.2 billion in 2003.
EOP sells more San Jose properties
Thirteen buildings totaling over one million square feet of space in San Jose have been sold by Equity Office Properties Trust, a Chicago-based real estate investment trust.
The buildings are part of a portfolio of 29 industrial buildings totaling 2.6 million square feet sold Monday by EOP to RREEF, a division of DB Real Estate, the real estate investment management group of Deutsche Asset Management, a unit of Germany’s Deutsche Bank, for approximately $210.3 million.
As structured, the deal includes $73.3 million in cash plus five office buildings in two complexes. The office properties, which total 677,057 square feet, are Commerce Plaza in suburban Chicago, and Redstone Plaza in suburban Orange County. Total consideration for the office properties was $137 million.
“We were able to use the strengths of our company to complete a complicated sale of non-strategic assets, while acquiring office buildings in two of our target markets,” says Richard Kincaid, Equity Office’s chief executive officer, in a written statement.
The industrial transaction is EOP’s second sale of industrial assets to RREEF this year. The first sale, which closed in June, was for $197 million and included 37 industrial buildings totaling 2.2 million square feet.
The EOP industrial assets sold in the latest transaction include 13 buildings in San Jose totaling 1,037,691 square feet; 15 buildings totaling 1,418,440 in Oakland and the East Bay; and one building in Bakersfield of 130,600 square feet. The buildings were 89 percent occupied at the end of the second quarter, EOP says.
For the first time since it was founded a generation ago, Alain Pinel Realtors is opening an office in San Jose. The new office for the regional privately operated real estate services company at 1071 Blossom Hill Road will be its 22nd office in Northern California.
Alain Pinel’s Michael Nevis, a former agent in the firm’s Los Gatos office and the company’s director of career development, was tapped to run the new office. It opens in mid-October and will commence operations with at least 25 professional sales people with eventual capacity to house 78 agents.
“This truly marks a historic milestone for the company,” says Larry Knapp, chief operating officer and president of Alain Pinel Realtors, in a written statement. “It is another step in our measured growth, and with our firm’s emphasis on the high-end market, we needed a stronger presence locally to serve home buyers and sellers in the city’s communities, including Willow Glen, the Rose Garden, Cambrian, Almaden Valleyand Silver Creek/Evergreen.”
Pinel leased 9,650 square feet and is working on tenant improvements to occupy approximately two-thirds of the space immediately. The space includes a training center. About 2,500 square feet of the space will be sublet, enabling the real estate services firm to grow into the space over time as other agents join the company.
