Land Deal Reached for Wal-Mart Center
Paving the way for the long-awaited Wal-Mart shopping center, developer Stanley Rothbart announced that he has reached an agreement with a property owner to extend Cochran Street and provide access to the center.
Rothbart agreed Thursday to pay Newbury Park resident James Basile about $900,000 for the six-acre parcel Rothbart needs before construction on the 308,000-square-foot Simi at the Plaza center can begin.
Plans for the center, which will be at the corner of Madera Road and Cochran Street and will include a Home Depot, have been postponed because Basile refused to sell the land.
The City Council voted earlier this year to condemn a 1.3-acre parcel needed to build the project, but a Superior Court judge denied the motion, saying that Basile had not been given due process.
Rothbart, who is in negotiations with several tenants to fill other units, hopes to have the center open in time for the 1998 holiday season.
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