Located in Oakland, California since 1988, Jay-Phares Corporation (“JPC”) is a real estate brokerage, property management, development, and consulting firm specializing in commercial properties. Its geographic area of interest is the San Francisco Bay Area.

JPC’s primary focus is on the rehabilitation and redevelopment of core urban properties, typically in communities with high percentages of minority population, and often with significant social problems. JPC’s property rehabilitation and redevelopment operations are augmented by a construction affiliate (California General Contractor, License No. 841307) and ownership in a licensed private patrol company, Pride Security Corporation (PPO# 13710).

The two principals in the firm have a combined total of over fifty years experience in commercial real estate and have in past capacities been involved in the development and management of approximately three hundred commercial real estate projects. Prior to forming JPC, other projects in which the principals of JPC were involved featured the 590-acre Towngate Planned Community on the former site of Riverside International Raceway. The major components of Towngate were 2,500 residential units and a 1,200,000 s.f. super regional mall completed in by a joint venture between the Fritz Duda Company, for which one of JPC’s principals was chief operating officer immediately prior to the formation of JPC, and Homart Development, a wholly owned subsidiary of Sears Roebuck. The project also included Riverside County’s third largest shopping center, the 500,000 s.f. Towngate Community Shopping Center. Noteworthy northern California projects in which the company’s principals were also involved prior to forming JPC include Central Coast Plaza, San Luis Obispo County’s largest commercial mixed-use center, and Corte Madera Town Center, Marin County’s largest shopping center.

In addition to representation of major corporate clients and extensive involvement in the neighborhoods of Oakland, JPC’s current two major projects are the redevelopment of Foothill Square, Oakland, CA and the Solano 80 Shopping Center in Vallejo, CA.

An urban “infill” redevelopment on approximately 13.5-acres, Foothill Square is an existing commercial mixed-use center scheduled to commence major redevelopment in Fall, 2007. It is contemplated that the existing forty year old commercial center will be transformed into a contemporary residential-commercial mixed use village. Upon completion of its redevelopment, Foothill Square’s commercial component will contain as much as 143,000 s.f. of retail and medical services uses on ±10.5-acres, anchored by a 30,000 s.f. “lifestyle” supermarket, Lucas Harvest Market, featuring expanded fruit & produce selections, including organics, a full bakery, deli, service meat & fish departments. Long’s Drug Stores will also be building a new 15,700 s.f. store with pharmacy and drive thru. A “second phase” 3-acre future development parcel is planned ultimately to contain as many as 200 dwelling units and another ±20,000 s.f. of retail space.

The Solano/80 Shopping Center project is located at I-80 and Solano Ave., Vallejo, CA. Solano/80 will also be a major redevelopment on approximately 10.8 acres in which and existing center originally built in 1968-69 will be renovated to make way for approximately 140,000 s.f. of new retail space to be anchored by a new Rite Aid store, Harbor Freight Tools, and a major chain supermarket.