Commercial Real Estate- Winter 2015

Commercial inventory on the South Shore has been, like residential, a bit on the tight side this winter.   This includes rental units as well as real estate for sale.   The bulk of properties for sale are motels, mainly located in Stateline and Emerald Bay Road.   There are a few office buildings currently for sale, including several buildings used by the State of California and El Dorado County.   There is little inventory of retail buildings at this time.
In this tight market, Deb Howard & Co has in the past month sold a small shopping center located at 2318 Lake Tahoe Blvd and has put a major vacant parcel located at the corner of Ski Run Blvd and Highway 50 into escrow.  We are currently negotiating several retail leases for properties on Lake Tahoe Blvd and are confident of soon finding a buyer for a retail building located at 2639 Lake Tahoe Blvd.
We anticipate a more active market during the coming year.  The City of  South Lake Tahoe recently gave a review of commercial activity during the past year.  This included development of new outlets for BevMo, AutoZone, Coldwater Brewing, South Shore Bikes, Blue Dog Pizza, The Landing Resort, the new Mellow Mountain Youth Hostel,  and completion of Phase 1 of the Chateau at Stateline.   We believe there is momentum building for other new development during 2015.  This may include expansion for U-Haul on Emerald Bay Road, some re-development of the newly sold Factory Stores at the Y, new development at the Chateau Project, and others to be determined.
The city is evolving and improving,   We at Deb Howard will be working hard to help fulfill this effort.
By Craig Woodward
Commercial Specialist

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