After years of vacancy, an expansive retail space in Fairfield, California, is finally getting new life — and locals see it as a sign of the city’s potential.
The retail space at 601 Beck Ave. was empty for years before last June, when retailer Thrifty Bargain Inc. signed a lease for the entire 22,156-square-foot space in the freestanding retail property.
The brand specializes in selling a mix of second-hand crafts, thrift finds and DIY supplies, aligning with the area’s desire for sustainable and affordable retail.
The deal serves as a reminder of the challenges in filling large retail spaces, but it’s also a sign of what’s to come for Fairfield. An independent panel of industry professionals within the market selected the deal for recognition as a CoStar Impact Award winner for the Lease of the Year .
More than just filling a vacancy, the lease will also bring jobs, foot traffic and overall economic stimulation to the city, according to the broker who arranged the lease, and it sets an example for future businesses looking to enter the market.
About the deal: Thrifty Bargain signed a five-year three-month lease agreement in June 2024. This privately owned property was previously leased by the retailer 99 Cents Only Stores. It was built in 2003 and stands adjacent to the Solano Town Center Mall.
What the judges said: "It fills an empty space with a creative use which provides retail that may be better to view in person or use than buying over the internet. Thrifty Bargain creates jobs and supports local residents with affordable crafts,” said Haden Ongaro, executive manager director at Newmark.
"The revitalization of a space that had been vacant for many years is a testament to the appeal of the tenant but also of the resilience of the market after a retail slump,” said Vesa Becam, partner at Keegan & Coppin Inc.
They made it happen: Jeffrey T. Helm, broker at Helm Properties, represented the landlord.