California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
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.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

