Oct 10, 2012 2:58 PM by Connie Tran, KSBY News
The Santa Maria Town Center, a two-story enclosed mall in the city's downtown area, has been acquired by ERGS XIV REO Owner, LLC, the mall announced Wednesday.
A 14-screen Regal cinema movie theater will replace the former Gottschalks department store. Demolition of the vacant Gottschalks space is expected to begin this fall, so that construction of the theater can begin in early 2013.
The new owners of the mall also plan to revitalize the mall's common areas in order to attract additional nationally known tenants, which they say will include restaurants and other retailers. They also plan on building a soccer training facility, a full-service baseball and softball center, and a skateboarding park to add to the existing gymnastics center on the second floor of the mall.
Archon Group will serve as asset manager, and Architectural Ventures will serve as the operating manager.
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