Brixton Capital Acquires CA Property, Plans Redevelopment
The company paid $4.2 million for the former El Cajon police station, which provides more than 4 acres of development land.
By Roxana Baiceanu
Fletcher Marketplace rendering
Brixton Capital has completed its fourth commercial real estate acquisition this year, spending $4.2 million on the former police station in El Cajon, Calif. The company will use the 4.1 acres to build a mixed-use project—Fletcher Marketplace—which will include a retail component of 16,000 square feet and a hospitality component of 60,000 square feet. Retail Insite’s Don Moser and Matt Moser represented both parties in the transaction.
Brixton will lead the development at 100 Fletcher Parkway, with Dempsey Construction as contractor. The new owner of the site plans to sell 1.4 acres to Excel Hotel Group, the developer of the future hotel. The retail part of the upcoming Fletcher Marketplace is almost entirely pre-leased to In-and-Out, Blaze Pizza, California Fish Grill, Urbane Café and Mattress Firm.
“Retailing is undergoing massive changes, yet there are still exciting opportunities to create environments where customers’ daily needs are met for dining, entertainment and travel accommodations,” said Marc Brutten, chairman & founder of Brixton Capital, in a prepared statement.
The company currently owns and operates a portfolio of more than 10 million square feet of retail, multifamily, office, industrial and land assets across the U.S. and Europe, having ranked last year as one of the top 50 property owners in the country.
Rendering courtesy of Brixton Capital
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