Shopping Center in Camarillo to Be Auctioned
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Ponderosa Center, a Camarillo shopping center that includes a Vons market and a Crown Books store, is scheduled to be auctioned in a trustee’s sale Friday.
The center’s operator owes $11.3 million on the property and is in default, according to Theresa Drake, a foreclosure official at Chicago Title Co., which will conduct the sale.
The 40-space center was originally scheduled to be sold Jan. 8 at Chicago Title’s Ventura office, but that sale was postponed. A representative of the mortgage holder, Camarillo Ponderosa Shopping Center, declined to comment on a report that the center’s operator, Ponderosa Center Partners of Los Angeles, was trying to renegotiate its debt.
The center, at Barry Street and Arneill Road, has several vacancies. Its troubles were compounded in April when a 200-foot overhang collapsed, trapping one person. No one was injured in the mishap.
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