Noland Hamerly’s partners Steve Pearson and Randy Meyenberg represented California State University Monterey Bay’s University Corporation at Monterey Bay in its recent successful acquisition of the National Steinbeck Center building, a 38,000 square foot property in downtown Salinas. The acquisition, which involved complex real estate, commercial leasing and financing issues, will enable the University to have a strong and visible presence in the heart of Salinas, an area rapidly returning to economic vitality.
The University’s acquisition of the National Steinbeck Center building also materially assists the National Steinbeck Center, a world renowned literary and museum resource honoring Salinas native son John Steinbeck. The University agreed to continue to lease space in its newly acquired building to the National Steinbeck Center for $1 a year for many years to come. Not only is the Center complementary to the University’s educational mission; it also continues to operate a high profile cultural institution on the Central Coast of California.