|
Getting your Trinity Audio player ready...
|
Three longtime businesses on Old First Street in Livermore may be displaced this summer, following a change in their property’s ownership late last year.
Impacted businesses would include Tri-Valley Cobbler, J & R Sports Supply and Pierson’s Livermore Auto Stereo, which occupy the three-tenant center at 2558 Old First St.
Following resale of the building in late 2024, Tri-Valley Cobbler owner Danny Chappell said he received a letter announcing he could not renew his lease after the current one ends July 31.
A company called 2558 Old First Street Partners, LLC purchased the site from Jali LLC, according to the Alameda County Assessor’s Office. The change of ownership was recognized by the office, Dec. 4.
“They own the building, there’s not much I can do about it,” Chappell said. “I can beg and cry and beg ‘em, but it’s not going to do any good. We were all just hoping we could carry on, but it doesn’t always work that way.”
The property had been on the market since June 2024, according to a closed listing on Loopnet, a website for commercial real estate leasing and sales.
Built in 1975, the property was listed as having “Redevelopment/Releasing Opportunity”. It also stated that the retail space is rented at “well below market rent” or one-third the going-rate in the area.
The new owner doesn’t plan on renewing the leases of the existing tenants, city officials confirmed.
The three retail spaces were listed as available starting Aug. 1, 2025 on Showcase, a website for commercial real estate rental and sale. Each of the units — 1,750 square feet, 2,200 square feet and 3,000 square feet — are listed at $22.00 per square foot. For the whole building the price per square foot is offered at $20. As of March 18, the listing was no longer active.
The price per square foot has grown to about double the current rate Chappell pays for Tri-Valley Cobbler.
Under his current lease, Chappell pays about $10.80 per square foot, but almost everywhere else in Livermore, commercial spaces cost about $22 per square foot, he said.
Chappell may relocate Tri-Valley Cobbler if everything, including an available rental space, falls into place. Assuming a cost of $22 per square foot, Tri-Valley cobbler would need to downsize to a space 800 square feet or smaller to maintain a similar monthly rent.
So far, Chappell has received offers from Livermore community members regarding available retail space in the city.
“We’re in communication with the building owner’s representative and encouraging them to provide relocation assistance to the existing tenants,” city of Livermore spokesperson Stephanie Egidio told Livermore Vine.
A representative from Pierson’s Auto Stereo declined to comment on the situation and management at J & R Sports Supply was not available as of Tuesday morning.
