terramar

Rancho del Mar Meeting Set for February 23

February 14, 2017 by Seb Frey

Supervisor Zach Friend has announced a new meeting with Terramar, the current owners of the Rancho del Mar Shopping Center. Terramar held a community meeting in the spring of last year, at which time they indicated the shopping center would be undergoing a “remodel” over the next 1-2 years. Nearly a year has passed, with no visible changes to the center except for increasing vacancy; many Aptosians are increasingly concerned.

As a result, Terramar has planned another community meeting at Seascape Golf Course Clubhouse from 6-7:30 pm on Thursday, February 23 (with the program starting closer to 6:30). They will be sharing their design plans with the community at this meeting and requesting feedback.

If you have questions directly for Terramar you can contact Bruce Walton at BWalton@terramarcenters.com. If you have any input you’d like to give to Supervisor Friend, please call him at 831-454-2200.

What: Rancho Del Mar Community Meeting
Where: Seascape Golf Course
When: Thursday, February, 23 – 6:00-7:30 pm

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Rancho del Mar Community Meeting Set for April 28th

March 31, 2016 by Seb Frey

Supervisor Zach Friend has announced there will be a community meeting with Terramar Retail Centers, the new owners of the Rancho del Mar Shopping Center. The future of Rancho del Mar has been up in the air for a while now, and with increasing vacancies of late (especially the recent loss of the movie theater), a lot of folks are wondering what plans the new owners have for the property.

The meeting will be held at the Seascape Golf Club on Thursday, April 28th at 6:30 PM. Given the acute degree of interest which the community has expressed about the center, the event is expected to be heavily attended. For this reason, folks are being asked to RSVP for the meeting using this link.

If anyone has questions or input they would like to give in advance, they can contact Bruce Walton with Terramar at bwalton@terramarcenters.com

Rancho del Mar Shopping Center has been Sold

December 30, 2014 by Seb Frey

Safeway in Rancho del Mar — Safeway Stores Inc has sold Rancho del Mar

With little fanfare, the Rancho del Mar Shopping Center has been Sold to a property development company in Carlsbad, California. Terramar Retail Centers LLC bought a number of properties from Property Development Centers LLC (a subsidiary of Safeway Stores Inc.), including the the proposed Scotts Valley Town Center and our own Rancho Del Mar Shopping Center, in a deal worth $830 million.

Earlier in December, tenants in Rancho del Mar had been asked to provide estoppel certificates to the new buyers, indicating that a sale was imminent. There has been no announcement from Terramar Retail Centers as to what this will mean for the proposed Rancho del Mar Redevelopment project, however it is likely that the Terramar will be planning on making significant changes to the shopping center, as according to their web site, their “primary business is the acquisition and development of exceptional commercial real estate.”

Terramar presently owns a portfolio of 24 shopping centers on the west coast of the United States, mostly around the San Francisco Bay Area, Monterey Bay Area, Los Angeles, San Diego, Portland, and Seattle. Locally, they own the Santa Rita Plaza in Salinas and El Paseo de Saratoga in San Jose. Aptos Community News is keeping an eye on the project and the latest developments, and we’ll work to keep you informed as time goes by.