Malibu, CA (PRWEB) August 12, 2009
Los Angeles & San Francisco developer & investor, Tallen & Keshen Holdings, announced today that it has sold to the City of Ukiah Redevelopment Agency its strategic investment in a 15 acre fully entitled site designated for retail and commercial development. Tallen & Keshen Holdings acquired the property in 2007 and re-zoned it from automotive retail to a comprehensive retail and commercial zoning.
Ukiah is located approximately one hour North of Santa Rosa, CA, the commercial hub of the Sonoma Wine Country. The property fronts Highway 101 and is located in the regional Ukiah Redwood Business Park. Well known retailers in the Park include: Wal-Mart, FoodMaxx, Staples, Freidman's and many other fine restaurants and retailers.
"We are pleased that the City of Ukiah shares our view of the development opportunities our property affords to support the large trade area's retail needs, as well as to attract desirable tenants that will serve the community," comments Anne Keshen, company principal and co-owner. "The property is well located in a proven market, in an area with significant retail sales per square foot. The site enjoys excellent visibility and access and is already a well established and successful retail location for many of the nation's leading retailers."
Carol Soon, Tallen & Keshen Holdings, Legal and Project Coordinator who handled the closing, comments "The City of Ukiah and other stakeholders have been a pleasure to work with and we are pleased to have played a part in a future development that will serve both local residents and the community."
"The City of Ukiah led by the vision of City Manager Jane Chambers as well as Sage Sangiacomo and Guy Mills, did an outstanding job of strategically undertaking this multi-property assemblage, working with the City Council, local stakeholders and the Ukiah community," states Terrence Tallen, company co-owner and principal. "We believe that the long term benefits to the City of Ukiah as a result of this transaction are significant and numerous. Our market studies indicate that the Redwood Business Park with its fully entitled retail and commercial land will serve to accommodate Ukiah's current and future retail demand for years to come," comments Tallen.
Tallen & Keshen Holdings is a privately owned entrepreneurial investment and development company with holdings throughout CA and the Western US. In addition to the investments owned by company principals, Terrence Tallen and Anne Keshen, the company also co-invests with strategic funds and capital groups to acquire commercial notes and under-performing assets, with a focus on long term value creation.
Tallen & Keshen Holdings is comprehensively integrated with acquisition, value creation, asset preservation, leasing, entitlements, legal and turnaround expertise.
The company has an emphasis on retail and mixed use development, redevelopment, municipality dealings and entitlements; successfully addressing leasing and value creation in challenged markets as well as the complex capitalization and legal issues that affect assets in the current economy. The company has offices in Malibu, CA and Marin County, CA.