Firm Buying 49% Stake in Simi Valley Plaza
- Share via
Burnham Pacific Properties in San Diego has signed a purchase agreement for Simi Valley Plaza, a 219,775-square-foot entertainment and promotional center, for about $24.5 million.
The company expects initially to acquire a 49% minority interest in the Simi Valley center and has the right to acquire the remaining interest by December 1998.
Simi Valley Plaza is anchored by Home Base and Edwards Theatres. Other major tenants include Boston Market and Payless Shoes.
“Simi Valley Plaza is located adjacent to another Burnham Pacific center, Mountaingate Plaza,” said David Martin, president and chief executive officer of Burnham Pacific. “Together, these centers are the dominant properties in the trade area.”
Burnham Pacific acquires, rehabilitates, develops and manages retail properties on the West Coast. The company is headquartered in San Diego and has regional offices in Los Angeles, San Francisco and Portland, Ore.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
