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‘Let’s bring some fun to town’ | Childhood friends bring Korean corn dogs to Turlock

in business/Food/News

 A new Korean corn dog shop opened in Turlock this month, bringing a unique twist on a foodie favorite. 

The shop, called Corn'd, is located in University Plaza. The Instagram-worthy quick bites are grabbing the attention of both locals and out-of-towners. Days after the grand opening, lines were still out the door as people flocked to get their hands on the crunchy, fried treats.

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For the love of mac and cheese

in business/Community/News

Just over a year after the “I Heart Mac and Cheese” signs were installed at the shopping center at 1205 W. Monte Vista Ave. in Turlock, the fast-growing national chain officially opened their doors to the public on Monday as part of a special ribbon-cutting event alongside the Turlock Chamber of Commerce.

“It’s amazing to finally open and see all these people,” said Ben Bazar, who opened the franchise location alongside his wife, Tracy. “It’s really a dream come true. It’s turning out better than I thought.

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Inside Turlock’s ‘Freckled Gem’

in business/Community/News

Walking down Main Street in Turlock on Saturdays during the weekly Turlock Certified Farmers Market, you may sense the smell of eggs and toast in the air. You may also notice that things look a bit lonelier behind the table of popular microgreens stand Drake’s Greens.

This year at the Farmers Market, Drake’s Greens cofounder and co-owner Michelle Green has expanded her reach in downtown by opening the Freckled Gem Café, serving up coffee, gelato, paninis, avocado toast, biscuits and a variety of other breakfast sandwiches. She is located right beside her husband, Sedric, who continues to manage the Drake’s Greens table.

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These new national businesses opened, others coming soon in Turlock — and one closes

in business/Community

We’re halfway through the year and Turlock retailers already have had a bustling 2022.

Two companies have opened in new locations in the city, three construction projects are underway nearby and, unfortunately, one long-term business is calling it quits.

First, a Modesto-born brand has found a new home in Turlock. 5.11 Tactical, the military and law enforcement-focused apparel company founded by Modesto entrepreneur Dan Costa, opened a new store in Monte Vista Crossings earlier this year. The store, which fills the former Dress Barn space, has been operating in the popular shopping center since March.

The new site sells men’s and women’s outdoor and tactical clothing. The location is the company’s only corporate retail store in Stanislaus County, despite the brand’s origins in Modesto. Costa famously started 5.11 in 1999 with a single pair of pants, and sold the $300 million company in 2007.

While Modesto has stores, like Crescent Supply and Work World, that carry a selection of 5.11 products, there isn’t an official corporate store in the city. 5.11 has a factory store in Manteca. The Monte Vista Crossings 5.11 store at 3005 Countryside Drive is open from 10 a.m. to 8 p.m. Monday to Saturday and 10 a.m. to 6 p.m. Sunday. For more information, call 209-580-0640.

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California’s commercial property shortage is making investors desperate

in business/Economy

Strong commercial property reports are still trickling in for the first part of 2022 — but can commercial’s rebound last in the face of rising interest rates and an unstable economy?

U.S. mortgage origination volume for commercial properties — including multi-family — increased a significant 72% over a year earlier as of the first quarter (Q1) of 2022. By property type, mortgage volume increased:

  • 359% for hotels;
  • 145% for industrial;
  • 88% for retail;
  • 81% for healthcare;
  • 57% for multi-family; and
  • 30% for office, according to the Mortgage Bankers Association (MBA).

Accordingly, outstanding commercial mortgage debt increased 1.8% from the prior quarter in Q1 2022. Multi-family mortgage debt rose 2.1%, according to the MBA.

For reference, commercial mortgage originations were recently at their lowest in 2020 at the outset of the pandemic and 2020 recession, but quickly rebounded alongside rising demand. Commercial lending rose to a decades’ peak in Q4 2021. In a typical seasonal adjustment, originations fell back in Q1 2022, while remaining significantly higher than a year earlier.

The rise in commercial mortgage originations is a direct result of available commercial property falling below tenant demand, plunging vacancy rates to historic lows and encouraging investors to purchase.

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California Getting Back Into Energy Business to Save Wobbly Grid

in business/News

California is getting back into the electricity business to help shore up its shaky power grid.

The California legislature passed a measure late Wednesday that will give a state agency the authority to finance or buy power from any generator—including natural gas-fired plants—that can help prevent blackouts. The bill still requires the signature of Governor Gavin Newsom.

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New Foster Farms CEO talks about staffing, products and more as family ownership ends

in business/Employment

The new ownership at Foster Farms plans to retain its 12,000-strong workforce and the company’s mix of poultry products, Chief Executive Officer Donnie Smith said.

“There’s no reason for anybody at Foster Farms to be concerned about whether or not they’re going to have a job,” he said on a Zoom call Tuesday with The Modesto Bee. “Our intent is to grow the business.”

Smith spoke two weeks after Atlas Holdings, based in Greenwich, Connecticut, purchased Foster Farms from the family that founded it in 1939. The price was not disclosed. The operation includes turkey processing in Turlock and chicken plants in Livingston, Fresno, Porterville, Oregon, Washington, Louisiana and Alabama.

Continue Reading in The Modesto Bee

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Cheesecake business booms in first weeks of operation

in business/Food/Food & Drinks

Three weeks ago, Turlock’s Jessica Hostetter took her baking skills and love of cheesecake to officially launch her new business, Sweet Cheeks Cheesecakes. While the business is still new, she is already busy fulfilling orders from multiple customers.

Hostetter began baking three years ago and explained why she chose to focus on the cheesecakes over any other type of baked good.

Continue Reading in Turlock Journal

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The 10 Steps For Converting Your California LLC To A Delaware Corporation

in business

Most startup founders form a Delaware C corporation as it is the preferred legal entity of most investors. However, some founders instead form a California LLC when they expect to have losses their first few years and would like for those losses to flow down to schedule C of their individual tax return to offset other income.

Once the company has gained traction and is ready to raise outside venture capital financing, the founder might then convert the LLC to a Delaware corporation by completing the following 10 steps:

Continue Reading on Forbes

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Staffing and funding. Business owners share those and other top concerns at Turlock summit

in business

Small business owners gathered Tuesday for the first Turlock Business Summit, organized by the Valley Sierra Small Business Development Center.

The free event, held at the Grand Oak Banquet Hall And Event Center in Turlock, saw over 100 small business owners and employees in attendance and featured presentations from various consultants and business leaders.

Maisie Silva, the Turlock program specialist for the Valley Sierra SBDC, said the event was made possible through an American Rescue Plan Act grant for the “Turlock: Small Business, Large Impact” program. The program seeks to connect local business owners with resources and provide opportunities and training.

Continue Reading on The Modesto Bee

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