SEASIDE HOME SIGNS 32,457 SQUARE-FOOT LEASE FOR FORMER
SAK’S FIFTH AVENUE SITE IN LA JOLLA

Seaside Home has signed a seven-year lease for over 32,000 square feet at the Gaines Building, 1055 Wall Street, in La Jolla. The lease represents the largest square footage transaction in the home furnishings industry in San Diego County for 2010. It also revitalizes one of La Jolla’s landmark buildings, formerly occupied by Sak’s Fifth Avenue, at the corner of Wall Street and Herschel Avenue in the heart of the village of La Jolla.

The lessee was represented by Phil Wise, senior vice president of Colliers International and the lessor, Madison Marquette, was represented internally by Kelley Maher. The financial value of the lease was not disclosed.

The new location will allow Seaside Home to merge its Rancho Santa Fe and Girard Avenue locations into one incredible venue, expanding its existing combined space of approximately 11,000 square feet into a space roughly three times larger.

The company plans to open the 7,500 square-foot first-floor level and 7,500 square feet on the second level of the new Seaside Home this November; the remaining 17,500 square-foot second-floor level will open in the spring. Both levels will have extensive tenant improvements constructed internally by the award-winning multi-disciplinary design firm, The Jackman Group, sister company of Seaside Home.

“Seaside Home is the premier home furnishing retailer in Southern California and we feel the perfect retailer for this building,” said Maher. “Seaside’s owner, Sheryll Jackman, will make this an unbelievable success.”

Sheryll Jackman is Director of Design for Seaside Home and holds the same title at the Coronado, Calif.-based Jackman Group, a firm that has designed and built some of the region’s most distinctive homes and commercial buildings. The parent company, Jackman Industries, Inc., was founded in 1982, with Sheryll Jackman’s husband, Harry Jackman, serving as Vice-President Construction Management.

Sheryll Jackman said she is thrilled to share this iconic building with retailer, Brooks Brothers, which opened its San Diego County flagship store in November 2008. Jackman finds that Brooks Brothers’ company values are strongly aligned with those of Seaside Home. “Brooks Brothers has shaped the American style of dress through fashion innovation, fine quality, personal service and exceptional value in its products,” said Jackman. “The duo will create a complete lifestyle destination; home furnishings and fashion in one location.”

Since Seaside Home opened in 1996, it has been a magnet for San Diego’s most discerning clientele and has firmly established itself as a unique source of inspiration.
Jackman’s vision for the new flagship store is to build upon the past 14 years by re-defining the meaning of home styling and design highlighting the credibility of San Diego as a top design destination for all of Southern California.

“What typifies Seaside Home,” said Jackman, “is the convergence of an elegantly classic ensemble of elite names in design and home décor showcased in delightful and architecturally detailed lifestyle vignettes.”  In addition to offering furniture lines from Baker Furniture, McGuire, Ralph Lauren Home, and Stickley, it also merchandises Henredon, Oscar de la Renta and Barbara Barry. Tabletop vendors include William Yeoward Crystal and Juliska, Michael Aram, and L’Objet. Bed and bath is represented by the venerable Ann Gish’s washable silks, SDH, Sferra, Peacock Alley, and Anali.

Jackman’s plans also include an upstairs lounge area where designers and clients can meet in a relaxed and comfortable setting. The space will include a complimentary coffee and wine bar adjacent to an outdoor patio.

“The expanded space and ample parking will now allow us to more readily host special events including private functions, guest lectures by legendary design greats, trunk shows, book signings and charitable fundraisers,” Jackman said.

Also on the second level, Jackman is planning to offer sublet opportunities for boutique “stores within the store” to selected purveyors of high-end furnishings and compatible lifestyle related products not now represented in San Diego.

The Seaside Home interior space features two elevators and a wide central staircase; the building also features underground parking with spaces for 247 cars.

The addition of Seaside Home brings full occupancy to the 46,000-square-foot building.  In addition to Brooks Brothers, nearby neighbors include Tommy Bahama, Burger Lounge and Whisknladle restaurant; Hotel Parisi and La Valencia Hotel are one block away.

Sheryll Jackman, ASID, is a past president of the San Diego Chapter of the American Society of Interior Designers, a licensed General Contractor, and a licensed real estate broker for her own agency, Jackman Realty. She has received numerous awards from the San Diego ASID chapter for commercial and residential interior design.

Madison Marquette, founded in 1992, was an early pioneer of the modern “lifestyle center” concept, believing that retail destinations had become homogeneous, lacked character and failed to convey a real sense of place. Today, the company focus is on the creation of retail destinations –places reflective of the local community’s personality and culture and places where people can gather socially as well as shop and dine.

Colliers Macaulay Nicolls Inc. (CMN) operating as Colliers International, is a leading global real estate services company that provides a full range of services to real estate users, owners and investors worldwide. It operates in 294 offices in 61 countries.  Services include brokerage, property management, hotel investment sales and consulting, corporate services, valuation, consulting and appraisal services, mortgage banking and research. Colliers International is a worldwide affiliation of independently owned and operated companies. Locally, Colliers professionals serve clients throughout San Diego. at www.colliers.com/sandiego

written by Kris Grant (619) 522-0900