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September 23, 2023
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Mammoth Lakes Retail Property Gets New Owner in $8.9 Mil Deal


Mammoth Main Street Promenade, a 42.8k sf shopping center located in the heart of Mammoth Lakes, CA, was purchased for $8.85 mil ($207/sf) by an OC-based 1031 exchange investor.

Built in 1988, Mammoth Main Street Promenade is currently 98% leased to a diverse and highly synergistic tenant mix that caters to local residents, as well as the 2.8 million visitors per year that vacation in Mammoth Lakes to enjoy skiing, snowboarding, fishing, mountain biking, camping and more. The property is leased to 22 tenants including Mammoth Laundry and Sun & Ski Sports, a premier retailer for all Mammoth-related recreational activities.

“The property benefits from excellent access and prominent exposure near the busy intersection of Main Street and Old Mammoth Road with a combined 24,078 vehicles per day,” notes Patrick Toomey with CBRE. Toomey, along with CBRE colleagues Jose Carrazana, Jessica Baram and Enrique Wong, represented the seller, a private investor.

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