(Local Simi News) Mountain Gate Plaza Gets another owner...

GlobeSt.com - Nearly $40M Takes Simi Center

"SIMI VALLEY, CA-Scanlan Kemper Bard of Portland, OR has acquired one of the largest community centers in this city, the 287,004-sf Mountaingate Plaza, from Los Angeles-based RP Properties for $39.6 million. The center occupies one of the busiest intersections in the area, according to Irvine-based Faris Lee Investments, which brokered the deal. ..."

Surprise! MountainGate has a new owner! :|

The musical chair ownership of Mountain Gate continues. I feel sorry for this complex. It's one of the older shopping centers in Simi, but for that last 20 years it's been bastard step child of shopping locations.

In the last year, it seemed that some life had been breathed into it. The parking lot was repaved, new tenants filling some of the empty store fronts, etc. But that looks like a move to make the property attractive enough to get some other sucker to buy it...

This is a GREAT location. As the article notes, there are fewer better intersections in Simi. This is one those intersections that everyone passes through at one point or another.

The challenge is that our new mall is opening just up the street. Still Mountain Gate CAN succeed. It needs some fore thought, care and attention and this can once again become an active center for the community.

I'm keeping my fingers crossed...
(Fry's... Put in a Fry's... that will help, really! ;)