Broker’s Report: Is Fremont a Retail-friendly Community?
Yes. But, as a commercial real estate broker specializing in retail leasing, I might have been uncertain about the answer just a few years ago. Major demographic shifts occurring over the past decade and new retail offerings not keeping pace resulted in Fremont’s retail demand being underserved.
However, today I find the Fremont retail landscape to be vibrant and exciting, both as a resident and a broker. Our city government is very forward-thinking, helpful, and business-friendly. New and existing merchants will find the atmosphere to be full of opportunity.
Long known as a “bedroom” community, Fremont is roaring to new life as Silicon Valley East and is now recognized as one of America’s most innovative cities as well as one of the best governed. City leaders know the true meaning of a “full-service city,” meeting the needs of residents and business owners by focusing on great schools, services, manufacturing, and other innovative enterprises.
One of the needs of any complete city is local retail outlets serving residents’ needs. From the newer Pacific Commons, to more established shopping centers such as The Hub, Fremont Plaza, and Gateway Plaza that surround and complement the new Downtown, the Mission San Jose and Centerville street retail districts and other vibrant neighborhood shopping centers to the north, not to mention the Warm Springs/South Fremont BART redevelopment project, the retail leasing market is alive and well, with brisk activity and great opportunity for merchants in the Bay Area’s fourth largest city.
As you can see by the charts below, economic recovery and demand for retail space in Fremont are well ahead of the surrounding areas (courtesy of CoStar Group).