Simi Valley Town Center

Last updated

Simi Valley Town Center
Simi Valley Town Center
Location Simi Valley, California, U.S.
Coordinates 34°17′05″N118°46′12″W / 34.284795°N 118.770070°W / 34.284795; -118.770070
Address1555 Simi Town Center Way
Opening date2005
ManagementSpinoso Real Estate Group [1]
OwnerSteelWave [2] and Steerpoint Capital [3]
No. of stores and services67 (as of 2025) [4]
No. of anchor tenants 0
Total retail floor area 627,772 sq ft (58,321.9 m2) [1]
No. of floors1 (2 in both former Macy's stores)
Website Official Website

Simi Valley Town Center is a lifestyle center in Simi Valley, California, United States, [5] located off of California State Route 118 between First Street and Erringer Road. It is owned by San Mateo, California-based commercial real estate developer SteelWave and Los Angeles-based Steerpoint Capital. The center is managed by Spinoso Real Estate Group.

Contents

The center features California Pizza Kitchen, Five Below, Marshalls, Studio Movie Grill, and Ulta Beauty as major tenants. It was last anchored by Macy's, which shuttered its Men's and Home store in 2017 and its main store in 2024.

History

Simi Valley Town Center opened in 2005 with 120 tenants, anchored by Macy's and Robinsons-May. The latter was short-lived as it was converted into a Macy's Men's and Home store on September 9, 2006, as part of the acquisition of Robinsons-May's parent company, The May Department Stores Company, by Federated Department Stores, Inc. (Macy's parent company, which is now Macy's, Inc.) in 2005. The complex was designed by the architectural firm F+A Architects to resemble a hillside Italian village. [6] It was originally owned and operated by Forest City Enterprises.

In 2010, the center was sold to Alberta Development Partners and Walton Street Capital. [7]

The center is home to KWSV-LP, a non-commercial low-power FM radio station known as "99.1 The Ranch" that launched in 2015 with a country music format. [8]

The center is also home of the Skateboarding Hall of Fame Museum.

Decline and possible revitalization

On January 4, 2017, Macy's announced that it would be closing the Men's and Home store, consolidating those departments with the existing women's store at a later date. The closure is part of a restructuring effort that involves closing 68 stores and eliminating more than 10,000 jobs nationwide. [9]

On September 15, 2017, Apple closed their doors permanently, as it was one of the company's first stores to shutter completely. [10]

On January 18, 2024, it was announced that Macy's would be closing as part of a plan to close 5 stores nationwide, which will leave the mall with no anchors. [11]

In October 2024, the center was purchased by SteelWave and Steerpoint Capital, [2] [3] in hopes in revitalizing the beleaguered shopping center into a mixed-use of residential, dining, entertainment, and retail uses. [12]

References

  1. 1 2 "Spinoso Real Estate Group - Simi Valley Town Center". Spinoso Real Estate Group. Retrieved March 2, 2025.
  2. 1 2 "SteelWave - Simi Valley Town Center". SteelWave. Retrieved March 2, 2025.
  3. 1 2 "Steerpoint Capital - Simi Valley Town Center". Steelpoint Capital. Retrieved March 2, 2025.
  4. ↑ "Simi Valley Town Center - Directory of stores" . Retrieved March 2, 2025.
  5. ↑ Harris, Mike (June 15, 2019). "Long-struggling Simi Valley Town Center has new owner who plans to redevelop it". Ventura County Star . Retrieved June 15, 2019.
  6. ↑ Griggs, Gregory (October 27, 2005). "Shoppers Get Preview of Simi Valley's New Mall". Los Angeles Times . p. B-3. Retrieved May 26, 2018.
  7. ↑ Hersko, Tyler (May 30, 2019). "Struggling Simi Valley Town Center in default, documents say". Ventura County Star . Retrieved May 4, 2019.
  8. ↑ Appelbaum, Eliav (August 19, 2016). "The Ranch will air it out". Simi Valley Acorn. Retrieved May 26, 2018.
  9. ↑ Hersko, Tyler (January 4, 2017). "Macy's to close 1 of its stores in Simi Valley". Ventura County Star. Retrieved May 26, 2018.
  10. ↑ Harris, Mike (April 18, 2018). "Owners of 'imploding' Simi Town Center unveil plans to reinvent mall as mixed-use complex". Ventura County Star. Retrieved March 2, 2025.
  11. ↑ "Macy's to Cut About 2,350 Jobs, Close Five Stores". Wall Street Journal. January 18, 2024. Retrieved January 18, 2024.
  12. ↑ Willer-Allred, Michele (January 18, 2025). "Town Center transformation - New owners envision vibrant mix of dining, retail and residential". Simi Valley Acorn. Retrieved March 2, 2025.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.