Soquel retail complex on 41st Avenue emerges from devastating blaze

SOQUEL - Three years after a devastating fire, brothers Brian and Kevin Dueck are almost ready to open a new commercial development, Retail 41. Their investment: More than $1 million.

While other landlords have vacancies, the Duecks have signed leases for two new businesses, Discretion Brewing and Crossfit Now, and are reviewing proposals from other would-be tenants for units in the 10,500-square-foot space at 2703 41st Ave. across from Home Depot.

"We have three letters of intent, and two more coming in," said Kevin Dueck.

"You never know when you build these things what's going to happen," said Brian Dueck, who helped supervise the construction. "It's good to see people interested in leasing new space in these times."

Offers have come from a furniture store, tanning salon, hair salon and commercial kitchen, according to real estate broker Steve Allen. Only two of the eight spaces are left.

The Dueck family, which own the furniture stores HomeSpace and WorkSpace at this location, debated how to proceed after losing a 20,000-square-foot showroom and warehouse.

The brothers considered rebuilding, then looked at building with a multiple-tenant space, with Swift Street Courtyard and the Sash Mill as inspiration. Finally, they downsized the tenant spaces to increase their affordability.

"If spaces go for $1 a (square) foot, we're going to get more offers than if we're in the $2 range," said Kevin Dueck.

"We went back to the drawing board because of the economy," said Brian Dueck. "We're happy we went that route."

Their asking rate in the $1 range is lower than average rate in the fourth quarter of 2011, which was $1.97 per square foot, according to Cassidy Turley Commercial Real Estate Services.

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Soquel retail complex on 41st Avenue emerges from devastating blaze