Tuesday, January 17 , 2017, 4:22 am | Fair 43º

 
 
 
 

Business

Santa Maria Town Center Mall Has Been Sold

New owner plans to add 14-screen Regal cinema, family-oriented entertainment in former Gottschalks department store space

The Santa Maria Town Center has been sold to a new owner, which has plans to add a 14-screen Regal cinema in the two-story mall.

ERGS XIV REO Owner LLC will acquire the enclosed mall in downtown Santa Maria, according to a news release.

The company said it intends to demolish the vacant former Gottschalks department store space this fall so that construction can begin on the theater in early 2013.

The new mall owners also plan to revitalize common areas to attract more nationally known tenants, including restaurants and other retailers.

“It’s a redevelopment effort,” said Cris Zertuche Wong, asset manager with Archon Group. “There’s a strong interest to develop the center in the community.”

More family-oriented entertainment — like the existing gymnastics center — is expected to open on the mall’s second floor, according to Zertuche Wong.

She said amenities such as the gymnastics center and existing skateboarding park will be enhanced. A soccer training facility and a full-service baseball and softball center are part of the new plans.

Dave Pankratz, co-owner of One Way Boardshop on the mall’s second floor, said he’s looking forward to the changes.

“It’s going to be awesome,” Pankratz said Wednesday. “Finally, the mall is going to get what it needs.”

Pankratz said the shop’s skateboarding park would be moving from its current, temporary location on the second floor to directly beside the shop, which has been in the mall seven years.

He’s hopeful the mall will become “the destination for shopping” in Santa Maria.

“There’s going to be entertainment,” Pankratz said. “The people who took it over seem to have the resources. We’re really excited.”

Pankratz said he’s heard from mall owners that demolition of the old Gottschalks could begin as early as Monday.

Zertuche Wong could not say how long the sale has been in the works, or divulge any of its terms.

Mall owner Greg Kozak could not be reached for comment, but his company, Architectural Ventures, will serve as operating partner, Zertuche Wong said.

Noozhawk staff writer Gina Potthoff can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through PayPal below, or click here for information on recurring credit-card payments.

Thank you for your vital support.



Reader Comments

Noozhawk encourages free expression, regardless of viewpoint, but requires that such expressions be civil in tone, respectful of other commenters and relevant to the stories on which they are posted. We reserve the right to remove any comment for any reason.

By posting on Noozhawk, you:

» Agree not to submit a comment that is abusive, defamatory, disrespectful, illegal, libelous, profane, vulgar or disparaging (whether on the basis of disability, ethnicity, gender, nationality, race, religion, sexual orientation, traits with which people are born, or otherwise).

» Agree not to submit a comment that attacks or threatens another person, threatens or promotes violence, wishes for harm to befall another person, invades another person's privacy or proprietary rights, or uses expletives (including veiled profanity).

» Agree not to stalk or harass another person, dominate the conversation, discourage participation by others, or bait, belittle, bicker with, mock or taunt others.

» Agree not to solicit others. You agree you will not use Noozhawk’s forums to solicit and/or advertise for personal blogs and websites, without Noozhawk’s express written approval.

» Comments with spam or self-promotional links are not allowed. Comments that include links are automatically routed to a Pending queue. Regularly checking it is not a priority of ours.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >