First In A Series On Central Valley Retail
He is from Los Angeles but Dave Paynter is familiar name around Visalia and the Central Valley. Developer Paynter has a 25 year history of turning underperforming properties, real challenges – into retail hot spots along Mooney Boulevard. Remember the “Sin City” apartments at Mooney and Walnut? It is now Park Place Promenade anchored by Kohls and Ross.
Now he has taken on perhaps his biggest development challenge – buying a tired,60 percent empty 1970’s shopping center – the Sequoia Mall this Friday for an undisclosed sum.
In coming weeks we will share what big plans he has for the mall.”If anyone can do it – Dave Paynter can” says John Dubois of Core Commercial Real Estate who brokered the sale for partners Kimco Real Estate and Schottenstein Properties.”He has a great track record in Visalia.” Dubois says Paynter won the bidding on the 24.3 acre mall over multiple offers. The sale includes Tower Plaza as well as the mall not including the Sears and Hobby Lobby spaces.
More later
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