Sunday, August 20 , 2017, 6:47 am | Overcast 64º

 
 
 
 

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.

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click here to get started >

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.



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 >