{"id":1004320364,"date":"2019-04-29T05:03:18","date_gmt":"2019-04-29T13:03:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004320364"},"modified":"2019-04-29T07:07:18","modified_gmt":"2019-04-29T15:07:18","slug":"brixton-capital-sells-ca-retail-center-for-50m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brixton-capital-sells-ca-retail-center-for-50m\/","title":{"rendered":"Brixton Capital Sells CA Retail Center for $50M"},"content":{"rendered":"
\"\"<\/a>

Towngate Center. Image courtesy of Brixton Capital<\/em><\/p><\/div>\n

Brixton Capital has sold a 290,000-square-foot retail shopping center in the Inland Empire to an Asia-based 1031 Exchange buyer for $50 million.<\/p>\n

Located at 12625 Frederick St., in Moreno Valley, Calif., Towngate Center is currently 95 percent leased to national and regional tenants including TJ Maxx\/Home Goods, BevMo!, Ross Dress for Less, Dollar Tree, ULTA, Regency Theaters, Planet Fitness, Chipotle and Wells Fargo Bank.<\/p>\n

Brixton was represented by a CBRE team led by Vice Chairman Phillip Voorhees.<\/p>\n

\u201cTowngate was an excellent example of the effectiveness of Brixton\u2019s fully integrated operations platform and our ability to successfully identify and execute on value-add components in stabilized assets,\u201d <\/em>said Travis King, CEO of Brixton Capital, in prepared remarks.<\/p>\n

The deal is the seventh disposition the Solana Beach-based firm has made over the last six months. In March of last year, Brixton acquired a 103,568-square-foot shopping center<\/a> in Phoenix.<\/p>\n

Commercial real estate in the Inland Empire region has been on a hot streak<\/a> as huge demand for industrial and logistics facilities has led to a wave of new development and blockbuster sale prices<\/a> in the sector.<\/p>\n","protected":false},"excerpt":{"rendered":"

A foreign investor acquired the 290,000-square-foot asset in the Inland Empire through a 1031 exchange. The deal marks Brixton\u2019s seventh disposition over the last six months.<\/p>\n","protected":false},"author":745,"featured_media":1004320367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,34027,21742,21749,15],"tags":[34634,32789],"class_list":["post-1004320364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-inland-empire","category-latest","category-retail","category-west","tag-brixton-capital","tag-cbre"],"acf":[],"yoast_head":"\nBrixton Capital Sells CA Retail Center for $50M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-sells-ca-retail-center-for-50m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brixton Capital Sells CA Retail Center for $50M\" \/>\n<meta property=\"og:description\" content=\"A foreign investor acquired the 290,000-square-foot asset in the Inland Empire through a 1031 exchange. 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