Sierra Vista Mall sold to new owners for $41 million

News

The mall has been sold to a large private mall operator based in New York

CLOVIS, California — Sierra Vista Mall is officially under new ownership and shoppers are hopeful it’ll bring new investments into the mall. The city is also optimistic, but staff says there’s enough going on in the area for residents to already be excited for the future.

Commercial real estate firm Newmark Knight Frank (NKF) announced the sale Wednesday morning. The new owners are Mason Asset Management and Namdar Group, which is “one of the largest private mall operators in the country,” according to NKF’s press release.

Marihelen Goodwin has always loved visiting Sierra Vista Mall, but she said walking through these days she doesn’t see too many fellow shoppers.

After finding out about the sale, she’s immediately thought about what could come inside the mall’s doors.

“I hope we can attract some really good clothing stores. [My family and I] love to shop. We love to come to the mall, but if there’s nothing here it’s hard to justify it,” Goodwin said.

For a Wednesday afternoon, the mall attracted a steady flow of car and foot traffic. Most of it, though, was for the mall’s outside shops and restaurants.

The city’s Shaw corridor is undergoing a transformation. New businesses are being built as we speak, a new Costco just opened and a Hobby Lobby is set to open where Toys R Us once stood.

Plus, there are several new hotels on the way.

“The market values the community and sees the opportunity to make money,” Andrew Haussler, the city’s Community and Economic Development Director, said. “To take advantage of what we have to offer in Clovis.”

Haussler said the city has been in contact with the mall’s new owners for some time — and that they have a record of good investments.

Either way, for him, Clovis is becoming a place where shoppers don’t have to leave to get what they need.

“That’s beneficial for the whole entire region, to keep people out of their cars. Closer to home at least,” Haussler said.

No one with the mall or with the new ownership got back at press time to comment for this story.

To again demonstrate all the interest for the Shaw corridor, Haussler said he already knows who will likely be moving into the Kmart that closed down on Shaw.

He predicts everyone will be excited when the new store is revealed.

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April 29 2021 05:00 pm

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