The Simi Valley Town Center, a shopping mall in Ventura County, California, has been sold for $38 million. SteelWave and SteerPoint Capital are the new owners. They plan to make it a vibrant spot for the community.
With a $22.8 million loan from Archway Capital, they’re ready to revitalize the Simi Valley Town Center. They aim to meet the changing needs of locals and visitors.
The Simi Valley shopping mall is set for a big change. People are excited to see new shops, restaurants, and entertainment. The goal is to make it a key spot for Simi Valley community updates and Ventura County town center activities.
Simi Valley Town Center: A Thriving Shopping Destination
The Simi Valley Town Center is a top spot for shopping and dining in Ventura County. It has a wide range of stores and restaurants. Located at the heart of Simi Valley, it’s a favorite for both locals and visitors.
Overview of the Simi Valley Town Center
The Simi Valley Town Center covers over 612,000 square feet. It’s home to about 90 tenants, with 86% of space filled. You’ll find popular stores like Marshalls and Ulta Beauty, as well as places to eat like California Pizza Kitchen.
There’s also room for more stores and restaurants to open. This means the center can grow and offer even more choices.
Popular Retail Stores and Dining Options
The Simi Valley Town Center has something for everyone. You can find fashion, beauty, electronics, and home goods. There are also many places to eat, from casual to fancy.
Looking for a fun day of shopping or a night out? The Simi Valley Town Center is the place to be. It’s a lively spot for shopping and a key part of the community.
Simi Valley Town Center Sold for $38 Million
The Simi Valley Town Center has been sold to a new group for $38 million. SteelWave, a San Mateo developer, and SteerPoint Capital, from Los Angeles, now own it. They aim to make this retail center a key spot in Simi Valley.
New Owners: SteelWave and SteerPoint Capital
Archway Capital gave a $22.8 million loan for the simi valley town center deal. SteelWave and SteerPoint Capital are known for their work in simi valley property acquisition and simi valley commercial development. They plan to make the Simi Valley Town Center a bustling retail spot.
| Acquisition Details | Simi Valley Town Center |
|---|---|
| Sale Price | $38 million |
| New Owners | SteelWave and SteerPoint Capital |
| Acquisition Loan | $22.8 million from Archway Capital |
SteelWave and SteerPoint Capital are betting big on the simi valley town center and the simi valley commercial real estate market. With their experience and vision, they’re ready to bring new life and opportunities to this commercial hub.
Archway Capital Provides $22.8 Million Acquisition Loan
Archway Capital, a leading real estate finance company, has given a $22.8 million loan. This loan is for the Simi Valley Town Center’s acquisition. The new owners, SteelWave and SteerPoint Capital, plan to make it a lively retail spot in the next 12 months.
The Simi Valley Town Center, a large open-air mall, was sold for $38 million. With Archway Capital’s help, the owners aim to revitalize this property. They will use their knowledge in simi valley commercial property loans and simi valley real estate investment to make it a top shopping and dining place.
This loan shows the increasing need for simi valley commercial development financing. Investors and developers want to tap into Simi Valley’s market. Archway Capital’s funding will help the new owners turn the Simi Valley Town Center into a simi valley town center financing success.
The center’s makeover will make it more appealing. It will attract various retail stores and become a lively spot for the community. Thanks to Archway Capital and the new owners, the Simi Valley Town Center will stand out as a simi valley commercial property loans and simi valley real estate investment success.
Simi Valley Town Center News: Repositioning Plans for Lifestyle Retail
The new owners, SteelWave and SteerPoint Capital, have big plans for the Simi Valley Town Center. They aim to turn it into a lively spot for shopping and dining in the next year. Their goal is to make it a place where locals can enjoy a variety of activities.
These owners know a lot about making places like this better. They have a team ready to work on the simi valley town center redevelopment. This team includes experts in simi valley lifestyle retail and simi valley commercial property repositioning.
Here’s who’s on the team:
- William Anderson, with over 250 projects in 16 states and eight countries, focusing on urban planning.
- Seth Harry, who has worked on over 50 communities and urban centers, focusing on retail.
- Dena Belzer, an expert in retail market analyses for various projects.
- Shanti Breznau, working on a mixed-use town center in Montclair, Calif., and a retail strategy for a transit center in Richmond, Calif.
- Douglas Storrs, with 25 years of experience in land use planning and real estate development.
- Mike Watkins, the town architect for Kentlands in Gaithersburg, Md., for over 30 years.
This team is ready to make the Simi Valley Town Center a lively place. It will become a modern simi valley lifestyle retail spot, a true community hub.
Previous Owners and Redevelopment Efforts
The Simi Valley Town Center has seen many changes over the years. It opened in 2005 and has been a key spot for the community. It offers a wide range of stores, places to eat, and entertainment.
Many have owned the mall, including Festival Companies, Bayside SVTC, and Walton Street Capital. Each had big plans to make the mall a success in Simi Valley.
In 2019, Bayside SVTC bought the mall and planned to spend $87 million on it. They wanted to add a 10-screen movie theater and new stores. But, these plans hit roadblocks, and the mall struggled to stay popular.
Recently, the mall was sold to SteelWave and SteerPoint Capital for $38 million. Archway Capital gave them a $22.8-million loan. They plan to make the mall a lifestyle center in the next year.
The Simi Valley Town Center is starting a new chapter. The community is excited to see the mall’s new plans. They hope it will become a vibrant part of Simi Valley again.
Tenant Lineup: Marshalls, Ulta Beauty, and More
The Simi Valley Town Center has a wide range of stores and places to eat. It’s a top spot for shopping in the area. The town center meets the different shopping needs of the community.
Anchor Stores and Dining Establishments
Marshalls, Ulta Beauty, and Studio Movie Grill are the big names at the Simi Valley Town Center. They draw in lots of shoppers. The center also has places like California Pizza Kitchen, Red Robin, and Corner Bakery for food lovers.
Other stores like Five Below, Verizon, and Starbucks add to the mix. The Apple Store recently closed, but new talks are underway to fill the space. This shows the center’s commitment to staying lively and interesting.
The owners want to make the Simi Valley Town Center even better. They plan to add more fun and places to eat. This will make shopping there more exciting for everyone.
Community Impact and Local Events
The Simi Valley Town Center is more than a place to shop. It’s a lively spot for the local community. It hosts many events and activities all year round. These events help bring people together, creating a strong sense of community in Simi Valley.
The Simi Valley Apricot Festival is a big event. It happens on Saturday, September 21, 2024, from 11 a.m. to 5:00 p.m. at the Strathearn Historical Park and Museum. It celebrates the city’s farming history with historical talks, exhibits, and tours of El Rancho Simi.
Admission is just $5 for adults and kids over 4. Kids 3 and under get in free. Active and retired military with ID also get in for free.
The town center has also hosted big events that draw people from far and wide. In 2023, it welcomed fans from 20 countries to celebrate “Little House on the Prairie’s” 50th anniversary. The event had a panel with Melissa Gilbert and bus tours to the Big Sky Movie Ranch.
It attracted around 14,000 people and needed over 800 volunteers. The town center is now being redeveloped. The new owners want to keep it as a community hub. They plan to host more events for both locals and visitors, using its history and charm.
Conclusion
The sale of the Simi Valley Town Center for $38 million is a big deal. New owners SteelWave and SteerPoint Capital are ready to make it better. They aim to turn it into a top shopping spot in Ventura County.
The mall will get a fresh look and new stores. This means better shopping and dining for everyone. The community is excited for these changes.
The Simi Valley commercial real estate scene is changing. The mall’s makeover shows this. Even though Macy’s closed, the future looks bright.
New stores and a focus on lifestyle could make it a top spot. It could become a go-to place for shopping and fun.
The mall’s new journey is filled with hope. The city is optimistic, and so is the community. With smart planning, it will regain its status as a favorite spot.
It will meet the needs of locals and visitors. The mall will offer great shopping, dining, and fun activities.