The shopping complex, known as the Mall at Yuba City, is located at the intersection of Highway 99 and Colusa Avenue. It is a $42-million, 450,000-sf retail property, which is anchored by Sears, Gottschalks, JC Penny. Completed in 1989, it includes 75 retailers, a food court, freestanding restaurants and banks.
Approximately $17 million of the new financing will replace the existing loan on the shopping center. The remaining funds will be used to build out a new store at the complex for anchor tenant Ross Dress for Less. In addition, space improvements will be made for new tenants in the food court.
The financing has been provided by Fremont Investment and Loan. Avalon arranged the transaction on behalf of the mall owner, Yuba Plaza Associates Ltd.
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