
Iconic Village at Mammoth Trades at Record Price
Village at Mammoth, a 57,925-square-foot, ground-floor retail space located at the base of the Mammoth Mountain California ski resort, has sold for a record $28.3 million. The transaction, led by Matthews Real Estate Investment Services’ Bill Pedersen and El Warner, marks the highest sale price ever recorded for a commercial property in Mammoth Lakes.
Built in 1999, the experience-oriented retail property offers a curated lineup of shops and restaurants. The brokers say the deal further confirms the strength of e-commerce-proof retail centers in U.S. secondary and tertiary markets.
The undisclosed private investor buyer is an avid skier with an affinity for Mammoth, and was in the process of a 1031 exchange. “We were successful because of our ability to attract multiple buyers who see the value of this type of asset, and were willing to pay a premium to own property with a captive consumer audience that will always hold value,” said Pedersen.
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