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January 18, 2009

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The sign says that Eureka Square is owned by Biagini Brothers of San Jose.

Eureka Sq. is owned by the Sanchez family, successors to Joe and Eldiva Sorci, who bought the center for cash in the late 70's.
The Sorcis, who are now deceased, were good landlords.
I'll leave the rest to your imagination.

What's going on at Eureka Square? They raised the rents, the dance studio has moved to South City, and everything between the yoga studio and the cigarette shop is empty.

In a better economic climate, I'd say they were planning to put a bigger tenant in. Given where we are now, though, raising rents seems totally suicidal. Anybody know what gives?

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