– Coming to 7655 Town Square in Somersett, Sakana Sushi just pulled a permit for $150,000 in construction value for their new 3312 SF restaurant. $50/SF for a restaurant? Are they keeping the dirt floors? Is this a CHAIN? Seriously, I wish any commercial project the best of luck in this challenging retail location. You can read the permit report HERE.
– On the other end of Somersett, some real questions about the legality of the annexation of the Sierra Canyon II project into the original Sierra Canyon are being raised (annexation into Somersett itself is OK). And virtually none of the deeds for Sierra Canyon I reference the correct and none the current CCRs for the project. Calling Jakarta Joe!
– Notice of Default filings have soared to more than 30 per day. At this rate, September filings may reach mid-2010 levels. Many of the filings are actually re-filings for NODs that have expired or need new paperwork. But in any case, watch REO activity to start clicking up in a few months as the banks get serious again.
– Any ideas on why half of the Juniper Hill Road area is for sale right now? $2.9M lots?