Athleta (pronounced Ath-letta) is the first national retailer to sign a lease on State Street in over 15 months. The activewear brand is opening on the 700 block in the former Miniso location in the Balboa Building just outside Paseo Nuevo. Inside Paseo Nuevo, local women’s boutique Dylan Star moved to a bigger and better space within the mall...and there goes my paycheck. A couple beach front restaurants are closer to reopening with Reunion Kitchen + Drink opening this fall
In one of the largest transactions of the year, the 105K SF Apeel Sciences headquarters at 71 S Los Carneros sold to a local investment group for north of $36 million. Down the street at 80 & 82 Coromar Dr, the FoodBank purchased two buildings totaling almost 80K SF for their own use for $12.7 million. Last but not least, Pacifica Suites Hotel located just off of the 217 freeway sold for $27M.