Owner of Faces buys former Costanza's location
Sacramento Business Journal
The Sacramento region's source for local business news & events. Part of the American City Business Journals network.
Happy holidays, Business Journal LinkedIn community. As we head into Christmas weekend, let's start our recap of the week's business news with a new development in Midtown's nightlife scene.
Property records show that Sidie Investments LLC, with the same Sacramento address as the owner of Faces nightclub in Midtown, bought 2107 L St. in recent weeks.
Jeffry Davis, who's previously handled inquiries on behalf of Faces owner Terry Sidie , did not return email inquiries from the Business Journal's Ben van der Meer seeking comment on the purchase, for $1.3 million.
The building, about 2,200 square feet, hasn't had a tenant in about two years. Costanza's, a pop-culture themed bar that opened in 2018, closed in 2021, while Smoke & Beers, a barbecue concept, opened in its place that year and closed a few months later.
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Granite Bay Village owner sues Get Axed
The owner of Granite Bay Village has filed a lawsuit against a former tenant, seeking $2.5 million in damages after the business closed its doors only months after opening.
Lincoln-based Get Axed opened a restaurant and entertainment venue at 8705 Auburn Folsom Road in Granite Bay in September 2022. The business occupied an approximately 9,900-square-foot space at the center, owned by Ethan Conrad Properties, Inc.
Ethan Conrad Properties filed a lawsuit last month against the former tenant, alleging breach of contract.
Get Axed co-owner Aaron Wymer told the Business Journal's Jacob Abbott that the breach-of-contract allegation is a stretch and that he expects the dispute to be resolved.
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Fast-growing Clutch lays off workers
Sacramento-based consulting and staffing firm Clutch , which ranked No. 1 on the Business Journal’s list of fastest-growing companies this year, laid off a dozen workers last month as part of a reorganization.
Clutch communications officer Christine Mahon confirmed to the Business Journal's Emily Hamann that the layoffs took place in November and affected 12 employees.
In an emailed statement, Mahon said the layoffs were a part of Clutch’s growth strategy to decrease spending in area's that haven't been supporting growth and accelerate in areas that are.
CalPERS-owned building slated for residential conversion
An office building owned by CalPERS would be converted into housing, retail and office space, under a planning application filed with the city by Sacramento development company Heller Pacific, Inc.
Fast-Growing Gemini Legal takes new headquarters in Rocklin
Rocklin's Gemini Legal is moving its headquarters to a larger building in the city.
The legal services company purchased the building at 250 Technology Way after previously leasing properties on Blue Oaks Way and Menlo Boulevard.
"We simply outgrew our previous office space at (a) serendipitous time, when an ideal building was available," Gemini President Tony Daugherty said in a news release.
Gemini Legal was on the Business Journal's 2023 Fastest-Growing Companies list, reporting $32.9 million in revenue in 2022 and 92.3% growth over the past three years.
That's all for this week. Enjoy the holiday.