Press Releases
Basin Street Properties Purchases Landmark Petaluma Retail Center
The Golden Eagle Shopping Center Joins BSP's Downtown Portfolio
PETALUMA, Calif. – November 17, 2005 - Basin Street Properties, a prominent developer of commercial and mixed-use properties in Sonoma, Marin and Napa counties, announced the strategic purchase of The Golden Eagle Shopping Center – one of Petaluma's oldest retail outlets. The 71,000 sq. ft. retail center, which lies on the Petaluma River across the bridge from the new Theatre District, is a prime location given Basin Street's current revitalization efforts in downtown Petaluma. The Center was purchased from Walter Kieckhefer Company LLC for an undisclosed sum and boasts several long-standing Petaluma businesses, including Exchange Bank, Baskin Robbins, Dempsey's Restaurant and JM Rosen's Waterfront Grill.
"This is a key acquisition for Basin Street from a location perspective as it supports our ongoing revitalization efforts," said Matt White, president of Basin Street Properties. "We are excited about the future of this property and the contributions it will make to the overall downtown landscape."
Basin Street is widely recognized for its revitalization of downtown Petaluma. The company has added 226 state-of-the-art residences, a premier 12-screen cinema and a parking structure. Additionally, Basin Street has preserved the historic waterfront area and developed a river walk, constructed 86,000 sq. ft. of retail space and 70,000 sq. ft. of office space, and designed a lively public plaza to accommodate outdoor entertainment.
"The Golden Eagle Shopping Center will certainly benefit from being a part of our downtown portfolio," added White. "We are looking to enhance the property and plan to work with the tenants to assess their needs and determine how Basin Street can supplement their overall business objectives."
The Golden Eagle Center was built in 1970 and is located on the Petaluma River and the Turning Basin, across from Petaluma's new downtown Theatre District.
Basin Street Properties is located in Petaluma, Calif. and is a prominent developer of commercial and mixed-use properties in Sonoma, Marin and Napa counties. Founded more than 30 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information on Basin Street Properties, please call 707.795.4477 or visit www.basin-street.com.
