CLEARLAKE, Calif. – A new owner has taken possession of the former Ray’s Food Place property, and has plans to renovate the property and bring new retailers to the city of Clearlake.
Last fall, Medford, Ore.-based C&K Market, the parent company of Ray’s Food Place, announced its plans to close the store, which took place by year’s end, as Lake County News has reported.
C&K had owned the property, located at 15930 Dam Road, since 1995.
However, the property is now under new ownership. The Carrington Co., based in Eureka, finished its purchase of the site this spring, according to Greg Cutler, the company’s regional director of acquisitions.
At Clearlake’s second annual “State of the City” event on Aug. 30, City Manager Greg Folsom called the property and the plans for it a “significant economic development project” for the city, and one he’s asked about a lot.
So he introduced Cutler, who gave a brief overview of the Carrington Co.’s plans.
Cutler said the company purchased the property from C&K Market, with the sale closing about three months ago.
“Our intent is to redevelop the property and bring in some new business and some new activities,” said Cutler.
Cutler, who is based in Sacramento, said the Carrington Co. owns properties in 27 states.
“We’re excited about the opportunity to find something local,” he said, noting, “We found something literally between Sacramento and Eureka and so we’re motivated to work this out.”
The Carrington Co. likes to focus its efforts on well-positioned properties with potential in more rural “tertiary” markets, rather than looking for sites in San Francisco or Portland, he explained.
“One of our niches is buying vacant boxes, repositioning those boxes, leveraging our capital, our speed and our relationships with national and super-regional retailers to come back in and fill voids where there is currently an opportunity,” he said.
The Carrington Co. now is speaking with a handful of national, publicly traded retailers to come in and fill the property. He said those proposed lease agreements are still being worked out, with many moving pieces.
“But we’ve made significant progress,” he said.
Cutler also lauded Folsom for his efforts. He said he works in a lot of communities and markets where government officials are roadblocks.
“I can tell you that that’s the absolute opposite here,” Cutler said, noting that Folsom has been an ally, which is aiding the negotiations with the retailers.
Cutler asked the community to bear with the company as it’s working on the project.
“Our intentions are a full redevelopment of that property,” he said.
Cutler said the expectation is there will be two to three tenants who will fill the building.
Plans include a complete exterior remodel and new facade – which will include three entrances for the different retailers – as well as a new parking lot, new LED parking lot lights, enhanced landscaping throughout the property, a complete remodel of the building’s interior, new roof, new paint, and services of sweeping, landscape and security, he said.
Cutler said they believe the project will be well-received with the retailers, and that the retail offerings to be housed there will fill a void in Clearlake.
“We’re excited about it,” he said, noting he will continue to pass along updates on the progress to Folsom, “as he’s kind of riding shotgun with me on this project till we get it finished up.”
He said they hope to make traction on the leases with the new tenant retailers within the next couple of months.
And while it may turn out that they’ll be ready for construction as soon as the rain starts again, Cutler said they’ll make sure they’re ready to hit the ground running.
Cutler said architects, surveyors and construction crews already have been all over the building in anticipation of beginning the extensive remodeling process as soon as they can.
He thanked everyone for the opportunity to speak and said he looked forward to being a contributing member of the community.
Folsom said the company will be making big changes and bringing new businesses to town.
“I’m really excited about that project,” said Folsom.
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Eureka company purchases Clearlake Ray’s Food Place property; plans include remodel, new retailers
- Elizabeth Larson
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