Related report: Merced Mall under new ownership, sold for $22.5M. Here’s who bought it
The new owner of the main section of the Merced Mall says he’s committed to giving the location a facelift, days after purchasing the aging shopping center for $22.5 million.
The Merced FOCUS broke the news Thursday morning about the purchase of the 329,000 square-foot property by Sacramento-based Ethan Conrad Properties.
The mall’s longtime owner Codding Enterprises had put it up for sale last year, with an asking price of $32.2 million.
A timeline for renovating the mall has not yet been made public. Ethan Conrad, CEO of Ethan Conrad Properties, said in a news release the site will be rebranded as “The Marketplace At Merced” – a name which bears some similarity to the company’s other mall properties.
“In our commitment to excellence, we are dedicated to remodeling the property to ensure it exudes the same allure and attractiveness as esteemed destinations like Yuba Sutter Marketplace and Chico Marketplace,” Conrad said.
“Our aim is to create a space that not only meets but exceeds the expectations of our tenants and community members alike.”
Last year Yuba City officials recognized Conrad’s company for its renovation of the Yuba Sutter Marketplace.
The release said there have already been lease proposals for anchor space at the Marketplace at Merced. Plus the new owner aims to unveil plans for two new “pads” for drive-thru restaurant tenants who have expressed interest in setting up there.
“These tenants are poised to enhance the vibrancy and convenience of the property, catering to the community’s diverse needs,” the release said.
Ethan Conrad Properties now owns the majority of the Merced Mall – plus the adjacent buildings just east.
The old Sears building on the west side of the mall is owned by Newport Beach-based Sage Investco. There are also plans in the works to renovate that side of the mall, with activity picking up in recent weeks.
Lately, a modular office building has popped up on the old Sears site where the renovation work will take place. That location is expected to attract tenants like Ulta, Five Below, Petco, Burlington and Mattress Firm.
The eastern side of the mall, next to Kohl’s, remains closed – including the old CVS building. The section of the mall from the food court to JC Penney remains open for business.
Hi,
Do you know what is moving into the old Paul’s Restaurant on G street?
I saw a dumpter on front of the Restaurant on Friday with someone taking a
with some taking a wheel barrel of debree out. Also what is going in the
old Barnes and Noble building.