The family-owned real estate investment company that has acquired Shasta Gateway, the outlet mall in Anderson, has a plan that it says will turn around a shopping center that has struggled in recent years.
Tim Ednoff, vice president of transactions for Rhino Investments Group, said the company has about 7 million square feet of commercial space — primarily retail — under management in more than a dozen states. Most of the centers the company manages are on the West Coast.
We acquire “retail shopping centers that we think are undermanaged, underutilized, undervalued for some reason or another; that we see potential in that we can come in and help add tenants, bring life to and kind of renovate (into) new shopping centers,” Ednoff said in a recent interview with the Record Searchlight. Rhino Investments is headquartered in Henderson, Nevada.
While the company’s purchase of Shasta Gateway only closed about two weeks ago, tenants in the shopping center have heard about changes coming there for a few months and are optimistic that better days are ahead for the 36-year-old center that has large swaths of empty storefronts.
“I’m super excited,” Charlew’s Tap House co-owner Kathy Byerly recently told the Record Searchlight in an email.
Read on for three key points about Shasta Gateway’s future.
Yes, the movie theater side of shopping center is coming down
Rumored for weeks, Ednoff confirmed that the east side of the shopping center, the portion closest to Interstate 5, will be demolished. Tenants who currently occupy space there — Raliberto’s Taco Shop, Verizon, Portside Fish & Chips, and Vapes N Smoke — will be relocated inside the center at Rhino Investments’ expense, he said.
There is no timeline for the demolition or for when the businesses will be relocated.
This is being driven in part by the former Valley 11 Cinemas, which occupies a large portion of that side of the shopping center. The theater closed in 2024.
Ednoff said it would be a challenge filling that space, and that is exacerbated by all the other entertainment and streaming options people have today.
“There are not a lot of operators looking to come in and recapitalize old movie theaters,” he said.
What will replace that side of the center?
Ednoff said retail pads, or freestanding commercial lots, will be put in there.
“We do have a deal that we have agreed to with a national coffee tenant. I can’t tell you the name right now, but we are excited about that one,” he said.
Could it be Dunkin’? Several years ago, a deal was in the works to open a Dunkin’ in Anderson, where Maverik gas station is located, 2590 North St. But the development did not materialize.
Other potential users could be quick-serve restaurants, gas stations, and electric vehicle charging companies.
Other plans in the works
Commercial realtor Jess Whitlow, of Cox Real Estate Consultants in Redding, is working with Rhino Investments to market and lease the empty spaces on the west side of Shasta Gateway.
“I am really excited. I think the changes they’re going to make with potentially those new pad sites (are) really going to open up the visibility from I-5,” she said. “This is one of the very few centers where you have the entire strip portion of the center facing I-5 at such a proximity that you can read every single store sign, which is pretty cool.”
As for tenants to fill the empty spaces, Whitlow said a hair salon, an Asian restaurant, sandwich shop, UPS or Fed Ex store, ice cream shop, a medical lab, chiropractic office, and traditional retail are potential targets.
“I could tell you as a broker that’s been pretty active in this market … there was very little information that was readily available about the spaces in this center, historically,” Whitlow said. “So I am just really excited to actually get the center out in front of people in a way I don’t think has been done.”
David Benda covers business, development and anything else that comes up for the USA TODAY Network in Redding. He also writes the weekly “Buzz on the Street” column. He’s part of a team of dedicated reporters that investigate wrongdoing, cover breaking news and tell other stories about your community. Reach him on Twitter @DavidBenda_RS or by phone at 1-530-338-8323. To support and sustain this work, please subscribe today.
This article originally appeared on Redding Record Searchlight: Outlet mall near Redding will look different under new ownership
Reporting by David Benda, Redding Record Searchlight / Redding Record Searchlight
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