California Centers

MAR 2018

California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.

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18 California Centers Magazine | March 2018 C C prise that once existed Downtown has been tarnished in recent years by the lack of commitment and know-how needed to maintain the highest qual- ity shopper experience," the report continued. "It is fine for Downtown to look old and historic; it should not, however, look tired and neglected." So the city set about to clean house. Literally. It invested (along with its hotel partners) $60 million into reno- vating the Monterey Conference Cen- ter, which celebrated its grand reopen- ing this past January. The modern, LEED-certified facility now contains more than 40,000 square feet of flexible meeting space and boasts a 3,200-per- son capacity. The center is adjacent to the newly renovated Portola Hotel & Spa and connected to the Monterey Marriott. Altogether, these proper- ties offer 85,000 square feet of flexible meeting space, 19,150 square feet of exhibition space and 700 hotel rooms. The conference center is expected to draw new group business that will benefit all hotels and shopping centers within the county. "The renovation and grand reopen- ing of this modern, state-of-the-art building will be an important contri- bution to the continued economic re- vitalization of Monterey and the Mon- terey Peninsula," says Mike McCarthy, Monterey City Manager. "Groups meeting or hosting events in the Mon- terey Conference Center will also be spending money in our communities, including local hotels, attractions, restaurants and shops." Downtown retail and restaurant options will get a further boost from a slew of hotel renovations and up- grades in the area that don't have to deal with the restraints placed on new ground-up developments. Casa Mun- ras Garden Hotel & Spa completed its renovation this past June; Embassy Suites by Hilton debuted its $17 mil- lion facelift in October; Pebble Beach Resorts introduced the new Fairway One at The Lodge in August while still underway on the renovation of all 454 guest rooms at The Lodge, The Inn at Spanish Bay and Casa Palmero, which will be completed in early 2019; L'Au- berge Carmel introduced its refresh this past January; and the Monterey Plaza Hotel & Spa on Cannery Row is in its final phase of a $4.5 million ren- ovation of the property's guest rooms. Tenants looking to penetrate this market may be in luck, thanks to the ground-floor space these newly ren- ovated hotels are now sporting. The recently expanded Monterey Hotel is one such example. Originally built in 1904, the new iteration offers three retail spaces ranging from 405 square feet to 900 square feet along Calle Prin- cipal for $2 per square foot to $2.25 per square foot. "This is an exciting year for Mon- terey County as we see significant in- vestments happening here in our local businesses and communities," says Tammy Blount, president and CEO of the Monterey County Convention and Visitors Bureau. "The renovations and upgrades will not only give visitors new experiences, but also unforgetta- ble and inspirational stories to share with family and friends." Water may be scarce, but inspiration and a good story are bountiful in Mon- terey. Its past may be well document- ed while its retail outlook remains un- clear, but one thing is certain: the city is committed to making sure this next chapter's a good one. Steinbeck would be proud. CC Photo credit: City of Monterey The Monterey Conference Center celebrated a grand reopening in January and now contains more than 40,000 square feet of flexible meeting space. With expanded capabilities, the conference center is expected to draw new business to feed the area's tourism focus. The 131,601-square-foot Prune Tree Center in the Monterey County community of Prunedale, owned by Pacific Castle, is anchored by Safeway.

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