Irvine Enters Silicon Valley Retail Market

SUNNYVALE, CA-The Irvine Co. of Newport Beach, CA is opening a 58,000-sf specialty retail center, its first retail development outside of Orange County. The company, a noted developer of large master-planned communities on the Irvine Ranch, has already ventured into Silicon Valley but not in the retail market.

The Irvine Co. is the developer of 2 million sf of Silicon Valley office space. It also owns five apartment complexes in the valley, including the 2,700-unit North park in San Jose, as well as complexes in Cupertino and Redwood City.

The Irvine Co.’s retail debut into Silicon Valley, the Cherry Orchard Retail Center, is adjacent to the Cherry Orchard apartments, a 300-unit apartment complex, which opened in March and is nearly fully leased.

The Cherry Orchard center is located at 308 West El Camino at Mathilda in Sunnyvale. It will eventually include 58,000 sf of space and will contain 14 service-oriented retailers and restaurants.

The new shopping center includes anchor tenants, P.F. Chang’s China Bistro and Borders Books and Music. Borders will also open a new store in the valley’s new Santana Row. Both stores will be about 26,000 sf. Its Cherry Orchard space will be in the two-level building that is the centerpiece of the project.

Other tenants of the Cherry Orchard Retail Center are Pasta Pomodoro, Starbucks, Sprint PCS, A.G. Ferrari Foods and Peninsula Beauty Supply. Cherry Orchard will also continue to be home to C.J. Olson Cherries, which has sold cherries and other fruit items to local residents since 1899.

“We’re delighted to open our first retail project outside of Southern California in a dynamic community like Sunnyvale,” says Keith Eyrich, president of The Irvine Company Retail Properties. “Cherry Orchard will pay tribute to the rich farming history of this area and will provide surrounding residents with new shopping and dining opportunities in a comfortable town center setting.”