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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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About Dennis Kaiser

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.