Santa Maria Town Center (SMTC), a 331,804-square-foot regional mall in Santa Maria, CA, has traded hands. The seller was New York-based Goldman Sachs, while the buyer was an undisclosed global insurance company.
Built in 1976, the property is situated on 6.11 acres of land at 100 Town Center East, adjacent to the Santa Maria City Hall, Civic Center, Santa Barbara Superior Court, and the city transit center.
CBRE’s George Good, James Tyrrell, Jimmy Slusher and Philip D. Voorhees represented the seller.
CBRE’s Slusher says, “The property did trade below the original list price of $25,000,000 ($75 PSF), representing a huge value compared to land inclusive replacement cost and providing a low basis for new ownership moving forward.” He adds, “SMTC represents the only enclosed shopping experience or department store option within a 60-mile radius.”
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
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